Nov 1, 2017

Shell completes $3.8bn sale of North Sea assets to Chrysaor

Shell has completed the $3.8bn sale of a package of North Sea assets to Chrysaor following the approval of regulators and stakeholders. Shell is aiming to sell $30bn of assets by 2018 as it seeks to pay off debt following its takeover of BG Group. The deal represents about half of Shell's 2016 North Sea output. A Shell spokesman said the company "Retains a significant, more focused and strengthened presence in the UK North Sea, to which it remains committed". The sale means Chrysaor has now become the largest independent operator in the North Sea.

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