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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Annual demand for natural gas in the EU is pegged at approximately 380 Bm3y–450 Bm3y. A portion of this demand is met by regional production within the EU. However, the European energy system is beset by challenges that are impacting EU gas supply.
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