Shell, ExxonMobil sell North Sea assets

Shell UK (Shell), Esso Exploration and Production UK, (ExxonMobil), Mobil North Sea (ExxonMobil), and Enterprise Oil UK (Shell) have completed the final sale and transfer of a number of northern North Sea assets to TAQA Bratani, a wholly owned subsidiary of Abu Dhabi National Energy Co. (TAQA).

Offshore staff

LONDON -- Shell UK (Shell), Esso Exploration and Production UK, (ExxonMobil), Mobil North Sea (ExxonMobil), and Enterprise Oil UK (Shell) have completed the final sale and transfer of a number of northern North Sea assets to TAQA Bratani, a wholly owned subsidiary of Abu Dhabi National Energy Co. (TAQA).

The assets include equity and operatorship of Tern, Kestrel, Eider, Pelican, Cormorant North and South Cormorant fields (TENC-CA), and related infrastructure, a non-operated interest in Hudson, and equity interests in the Sullom Voe Terminal and Brent system.

TAQA Bratani will assume responsibility for the decommissioning liabilities relating to these fields and infrastructure, the companies say.

12/02/2008

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