Jan 31, 2017
Shell sells North Sea assets worth £2.46bn to Chrysaor
Shell is aiming to sell $30bn of assets by 2018 as seeks to reduce its debts following its takeover of BG Group. On completion of the North Sea deal, about 400 staff will transfer to Chrysaor, "Subject to a detailed scoping exercise and staff consultation", Shell said. The firm said it expected to "Record an accounting gain" on the sale, which includes Shell and former BG assets. He added that the firm wanted to "Simplify our portfolio following the acquisition of BG". In April 2015, Shell agreed to buy the oil and gas exploration firm in a deal that valued the business at £47bn. Shell cut thousands of jobs after the BG deal, and announced more than 10,000 job cuts globally. Shell said it would sell its stake in Thailand's Bongkot gas field to the Kuwait Foreign Petroleum Exploration Company.
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