Shell Is Selling Stakes in UK North Sea Oil Fields

According to Bloomberg News marketing materials, Shell Plc has decided to sell its stakes in North Sea oil fields.

The assets include minority stakes at two fields owned by BP plc and an interest in a field of discovery also owned by BP in the waters east.

Shell’s spokesperson declined to comment.

All sites are connected to the Eastern Trough Area Project’s central processing facility. Shell holds a 25% interest in the Madoes producing field and 21% in the Mirren field in that same area. The net production is approximately 1,000 barrels per day.

Shell holds a 25% interest in the Kate field. It is estimated that it contains 180 million barrels of oil.

According to the materials, potential bidders can access the data room for the projects in January. Offers are due by April.

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