Shell seeking $500 MM in sale of Tunisian gas assets
LONDON (Reuters) -- Royal Dutch Shell is seeking to sell its gas fields in Tunisia for some $500 MM, sources said, as the Anglo-Dutch company pushes forward with its vast disposal program.
The Tunisian assets, accounting for some 65% of the North African country's gas production, were acquired as part of Shell's $54 B take over of BG Group last year.
The assets include two offshore gas fields—Miskar, fully owned by Shell and Hasdrubal, 50% owned by Shell—as well as an onshore production facility.
In 2015, the fields produced 30,000 boed, according to BG Group's annual report of the same year.
According to two industry sources and another banking source, Shell is seeking to raise around $500 MM from the sale.
A Shell spokeswoman declined to comment.
Shell has sold or agreed to sell more than $20 B in assets over the past year as part of a $30 B divestment program aimed at reducing debt following the BG acquisition.
Reporting by Ron Bousso, editing by David Evans
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At October’s HPI Forecast Breakfast for our sister publication, <i>Hydrocarbon Processing</i>, I shared <i>Gas Processing</i>’s forecast on change in the LNG industry.
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The shale gas boom established the US as the world’s leading natural gas producer and is responsible for billions of dollars of investments in the US gas processing industry. Since 2012, the US has witnessed unprecedented growth in new gas processing capacity and infrastructure. This rise is due to greater production of domestic shale gas, which is providing cheap, available feedstock to fuel the domestic gas processing, LNG and petrochemical industries. New gas processing projects include the construction of billions of cubic feet per day of new cryogenic and gas processing capacity, NGL fractionators, multi-billion-dollar pipeline infrastructure projects, and the development of millions of tons per year of new LNG export terminal construction. Attend this webcast to hear from Lee Nichols, Editor/Associate Publisher, Hydrocarbon Processing, Scott Allgood, Director-Data Services, Energy Web Atlas and Peregrine Bush, Senior Cartographic Editor, Petroleum Economist as they discuss the future of LNG and the application of Energy Web Atlas, a web-based GIS platform which allows users to track real-time information for every LNG project.
November 29, 2017 10am CST
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