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Shell completes sale of interest in the US Gulf of Mexico Caesar-Tonga asset

Shell has completed the sale of 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Equinor.

Shell completes sale of interest in the US Gulf of Mexico Caesar-Tonga asset

Washington, July 31 - Neftegaz.RU. Shell has completed the sale of 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Equinor.
Shell reported this on July 30, 2019.

In April 2019, Shell announced it had signed an agreement to sell its interest to Delek CT Investment LLC.
Subsequently, Equinor exercised its right of first refusal under the joint venture operating agreement.
The transaction has an effective date of January 1, 2019.
The total cash consideration was 965 million dollars.

The transaction represents Shell’s focus on strategically positioning the deep-water business for growth and is consistent with its strategy to pursue competitive projects that deliver value in the 2020s and beyond.
The sale contributes to Shell’s ongoing divestment program.
The Caesar-Tonga field is operated by Anadarko Petroleum Corporation, holder of 33.75% interest.
The remaining interest in the asset following the completion of the divestment is distributed between Equinor (46.0%), and Chevron (20.25%).

To read this news in Russian.

Source : Neftegaz.RU