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Shell and Esso offload North Sea fields

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Greig Cameron / Thursday 6 August 2015

SHELL and Esso have agreed to sell stakes in a cluster of North Sea fields for $105 million.

Malaysian firms Ping Petroleum and Hibiscus Petroleum are each taking 50 per cent of the oil producing Anasuria assets, located around 175 kilometres east of Aberdeen.

That includes the Guillemot A field, the Teal field, the Teal South and the Anasuria Floating Production Storage and offloading unit. There is also a 38.65 per cent interest in the Cook field.

The deal is expected to formally complete in the final quarter of this year.

A Shell spokesperson said: “Shell can confirm that it has signed a sales and purchase agreement with Ping Petroleum and Hibiscus Petroleum, for the sale of its interests in the Anasuria Cluster.

“This deal fits with Shell’s strategy to deliver strong shareholder value across our assets. The Anasuria cluster has entered a phase where it offers greater value to other companies than it does for Shell.”

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