By DAVID SHAND: PUBLISHED: 00:01, Wed, Feb 1, 2017
A “GENERATIONAL change” in North Sea oil and gas production was signalled yesterday after Shell sold a large chunk to private equity-backed exploration group Chrysaor in a £3billion deal.
The sale is part of Shell’s plans to dispose of £24billion of assets by 2018 to reduce its debts following its £35billion takeover of BG Group last year.
Major producers like Shell are also withdrawing from the North Sea to focus on higher profit areas such as Brazil.
The assets, which produced 115,000 barrels of oil daily last year, will make Chrysaor the UK’s leading independent North Sea-focused oil and gas company.
It intends to grow the assets and has identified opportunities to extend the life of the fields.
When the deal completes in the second half of this year, about 400 staff are expected to transfer to Chrysaor on existing terms and conditions.
Shell’s upstream director Andy Brown hailed the deal a “vote of confidence in the UK North Sea”.
Linda Cook, a Shell veteran of 29 years who at one time was seen as a potential contender for the role of chief executive of the FTSE 100 group, has joined as Chrysaor chairman.
She said: “The North Sea has undergone a revolution in recent times with operating costs falling to competitive economic levels, and this signals a moment for a generational change in the basin.”
Chrysaor’s chief executive Phil Kirk added: “The UK North Sea has material future potential for oil and gas production.
“We intend to create a UK champion, with the skills and resources of a major independent oil and gas company, to help ensure the basin’s future potential is realised safely, profitably and in alignment with the Government’s policy of driving investment and maximising economic recovery.”
UK offshore industry organisation, Oil & Gas UK, said the potential new activity would be “good for the sector’s supply chain across the UK, which has been severely hit by the downturn.”
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
