Completion of the transaction is subject to regulatory and partner consents.
SPE CEO Jonathan Roger said: “As Jackdaw operator Shell has carried out some excellent work in progressing this opportunity.
“However, with an exciting program of exploration, appraisal, and development activity in our west of Shetland portfolio we have chosen to focus our resources in this core area and monetize our Jackdaw interest.”
Dyas CEO Robert Baurdoux said: “Dyas aspires to invest in material upstream projects, which are managed by experienced operators. With our [North Sea]Catcher and Mariner developments nearing first production, Jackdaw will provide Dyas with the opportunity to join Shell in developing this exciting gas/condensate field and bringing more UK gas into our portfolio.”