Shell sells part of North Sea assets for $3.8bn

Shell sells part of North Sea assets for $3.8bn

Anglo-Dutch energy giant Royal Dutch Shell has agreed to sell a chunk of its North Sea assets to oil firm Chrysaor for up to $3.8 billion (3.6 billion euros), it said Tuesday.

Shell said in a statement that it will sell its entire holdings in nine oil fields plus a smaller stake in a tenth field to explorer Chrysaor, adding that the deal would streamline its portfolio after the 2016 takeover of BG Group.

Follow Emirates 24|7 on Google News.