Shell mulls sale of non-operated assets in Malaysia
By Reuters Staff: March 13, 2021KUALA LUMPUR, March 13 (Reuters) – Royal Dutch Shell PLC’s Malaysia unit said it is considering selling its stakes in two production-sharing contracts it does not operate off the coast of Sarawak state.
In a statement on Friday, Shell Malaysia said the decision to consider divestment options is part of Shell Group’s strategy to focus and increase resilience and competitiveness in its upstream business.
The Baram Delta EOR and the SK307 production-sharing contracts are operated by Petronas Carigali Sdn Bhd, a unit of state energy firm Petronas. Sarawak Shell Berhad owns a 40% equity interest in Baram Delta and 50% in SK307, with Petronas Carigali holding the remainder.