Royal Dutch Shell is selling out of the aging Draugen Field in Norway and is offering small stakes in a number of other fields, according to a document seen by Reuters.
The sale process is part of the Anglo-Dutch company’s drive to sell $30 billion of assets by the end of the year following the acquisition of BG Group in 2016. It has so far sold over $25 billion.
Shell is offering its 44.56% stake in the Draugen Field, which produces about 225,000 bbl/d, according to the sales brochure. Draugen, which Shell operates, started producing in 1993 and has another 20 years of life, the document said.
Shell declined to comment on the sale process. However, a spokeswoman said, “We constantly evaluate opportunities to reshape our portfolio in line with our business strategy.”
On top of Draugen, Shell is also seeking to sell a number of stakes in non-operated fields, including Gjoa, where it holds 12%; Kvitebjorn, 6.45%; Valeman, 3.2%; and Sindre, 3.2%, known collectively as NOV Assets.
“Shell will only contemplate divesting NOV Assets alongside Draugen if Shell feels there is sufficiently strong buyer interest,” according to the document.
Shell has stakes in a number of other Norwegian oil and gas fields, including Gaupe, Knarr and Troll.