Shell today completed its sale of Gabon onshore interests for $628million.
Written by Rita Brown –
The deal is the latest in a string of divestments as the oil major zeroes in on its target of $30billion worth of divestments.
The deal with Assala Energy will see the new owner assume debt of $285million.
The transaction will result in a total post-tax impairment for Shell of $151million. Of this impairment, $53million was taken in Q1 2017, $98million will be taken in Q3 2017 with a final reconciliation to be reflected in Q4 2017.
The terms also dictate Assala Energy will make additional payments up to a maximum of $150million depending on production performance and commodity prices. A total of 430 employees have transferred to Assala-Energy.
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 41,000 barrels of oil equivalent per day (boepd) in 2016.
A Shell spokeswoman said: “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.”
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.
