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Shell dumps interest in two Norwegian fields

Shell dumps interest in two Norwegian fields

Shell adds $556 million toward its goal of divesting $30 billion in a streamlining effort.

By Daniel J. Graeber: June 20, 2018

June 20 (UPI) — Supermajor Royal Dutch Shell said Wednesday it sold off its entire stake in two fields in production off the Norwegian coast for $556 million. Shell’s subsidiary in Norway sold its entire 44.56 percent interest in the Draugen field and its 12 percent in the Gjøa to Norwegian energy company OKEA. OKEA CEO Erik Haugane in a statement on the deal said the agreement with Shell was a “high-quality acquisition.” FULL ARTICLE

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