The company is also selling other North Sea assets in the British shelf. The latest news here was the tendering of the
Earlier this year, there was media speculation that Shell would exit the North Sea entirely, but the company has denied the reports. At the moment, it operates 33 platforms there, with stakes in 65 oil and gas fields.
Last month, Shell said it had agreed with Canadian Tourmaline Oil Corp for the sale of oil and gas acreage worth over
The North Sea has become unattractive for oil majors thanks to the price slump, as it is notorious for much higher production costs than, say, the U.S. shale patch. Also, Big Oil is starting to pay more attention to smaller, faster-return project as a means of compensating for lower reserve replacement rates and costly but unsuccessful projects.
Shell has still not given up on big challenges, last week pledging
By Irina Slav for Oilprice.com
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