Oil & Gas

Shell launches sale of stakes in a group of UK North Sea oilfields

Shell (LON: SHEL)  has launched the sale of its stakes in a group of oilfields in the UK North Sea, according to marketing materials.

According to the documents, seen by Bloomberg, the assets include minority stakes in two fields operated by BP and an interest in a discovery field also operated by BP in the waters east of Scotland.

A spokesperson for Shell declined to comment on the North Sea sale.

All the sites are connected to a central processing facility in what’s known as the Eastern Trough Area Project (ETAP).

Shell has a 25% stake in the producing Madoes field and a 21% stake in the Mirren field in the same area. Net production is estimated to be about 1,000 barrels a day.

The Kate field, in which Shell has a 25% stake, is estimated to contain 180 million barrels of oil.

Potential bidders will be able to access a data room on the projects in January, with offers due by the middle of April, according to the materials.


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