Offshore staff

ASSEN, The Netherlands –Nederlandse Aardolie Maatschappij (NAM) plans to sell licenses offshore on the Dutch continental shelf in producing fields L2-FA, L2-FB, L5-FA, L12-FC, and L15-FA, plus F3-FB. All are in the North Sea northwest of Den Helder.

NAM also says it is offering its share in the NOGAT pipeline as part of its long-term strategy.

"Like every healthy company, we regularly review our portfolio to ensure that the assets we own fit our company strategy," says Roelf Venhuizen, NAM managing director. "The NAM of course will continue to operate the Groningen-field. Further we will continue to produce and develop our small-fields portfolio for as long as we can add value. The divestment of the mentioned fields and facilities is completely aligned with NAM's long-term strategy and as they are in a mature phase of their life cycle, they may have more value to third parties than to NAM."

10/17/2007