SINGAPORE– Shell has agreed to sell various interests offshore Thailand to KUFPEC Thailand Holdings for $900 million.
These comprise subsidiary companies Shell Integrated Gas Thailand and Thai Energy Co., which together own 22.222% of the giantBongkot field, and adjoining acreage offshore Thailand in blocks 15, 16, and 17 and G12/48.
PTTEP operates Bongkot – the other partner is Total.
Shell says the transaction is part of a planned $30-billion divestment program following itsacquisition of BG last year. It expects to complete the sale during the current quarter.