Shell selling Bongkot stake to KUFPEC

Shell has agreed to sell various interests offshore Thailand to KUFPEC Thailand Holdings for $900 million.

Offshore staff

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.

01/31/2017

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