Business & Finance

Shell sells part of North Sea assets for $3.8bn

Published January 31, 2017 Updated January 31, 2017 07:46am

1 min

By Parvez Jabri

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LONDON: 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.

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