Shell to sell three North Sea oil assets

Apr 21, 2005 02:00 AM

Oil giant Shell is going to sell three of its North Sea oil fields.
Shell teamed up with partner ExxonMobil to put the assets on to the market, to attract bids from companies from Europe to North America.

A large-scale withdrawal from the North Sea has been threatened since February, when Shell said it wanted to raise $ 12 bn-$ 15 bn from disposals in each of the next two years.
The area is viewed as a mature territory and the oil majors are looking elsewhere.

Source: Neftegaz.RU
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