Shell completes sale Gabon onshore assets $628 mn

Shell completes sale of Gabon onshore assets for $628 mn

11:08 AM, 2nd November 2017
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THE HAGUE, NETHERLANDS: Royal Dutch Shell plc (Shell), through its affiliates, has completed the sale of its entire Gabon onshore oil and gas interests to Assala Energy Holdings Ltd (Assala Energy) a portfolio company of The Carlyle Group (CG), for a total of $628 million.

This transaction consists of all of Shell’s onshore oil and gas operations and related infrastructure in Gabon: five operated fields (Rabi, Toucan/Robin, Gamba/Ivinga, Koula/Damier, and Bende/ M’Bassou /Totou), participation interest in four non-operated fields (Atora, Avocette, Coucal, and Tsiengui West), as well as the associated infrastructure of the onshore pipeline system from Rabi to Gamba and the Gamba Southern export terminal.

Shell onshore in Gabon produced approximately forty-one thousand barrels of oil equivalent per day in 2016. Shell Trading (STASCO) will continue to have lifting rights from the Gabon onshore assets for the coming 5 years.

Assala Energy will operate Shell’s onshore Gabon assets upstream assets. At completion, some 430 local employees have transferred from Shell to Assala Energy.

The completion of this deal shows the clear momentum behind Shell’s $30bn divestment programme and is in line with Shell’s drive to simplify the upstream portfolio and re-shape the company into a world-class investment.

© Worldofchemicals News

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