THE HAGUE, the Netherlands– Two Shell affiliates in Thailand have agreed to sell their 22.2222% interest in the Bongkot field and adjoining acreage offshore Thailand to PTTEP for $750 million.
The transaction should go through this spring, subject to completion of various conditions.
It coversShell’s stake in blocks 15, 16, 17 and G12/48. Following the sale, PTTEP’s operated stake in Bongkot will increase to 66.6667%, with the remaining 33.3333% held by Total.
Shell has been looking where possible to sell what it considers non-core assets: its target is to raise $30 billion from divestments.