NE Scotland, Orkney & Shetland

Shell to sell off three North Sea assets

Shell headquarters in Aberdeen
Image caption Shell said it remained committed to the North Sea

Shell is to sell its interests in three of its assets in the North Sea but says it is still committed to its operations in UK waters.

The company informed staff of the move earlier this week.

It is selling the Anasuria floating production, storage and offloading installation, and the Nelson and Sean platforms.

Shell said it wants to focus on assets where it sees an opportunity for growth.

Glen Cayley, vice president of Upstream Shell UK and Ireland, said: "The UK is an important business region for Shell, and our investment strategy continues to focus on assets where we see an opportunity for growth using our world-class technological know-how.

"We have 50 years of investment and operations in this region, including some of the landmark developments in the history of the North Sea.

"We are focusing and strengthening our portfolio for the decades ahead with many exciting projects such as new wells we are drilling at Shearwater, our investment in extending the life of Gannet, our investments in the non-operated ventures of Schiehallion and Clair and our purchases, last year, of a further interest in Beryl and the Curlew floating production, storage and offloading (FPSO) vessel."

Long-term future

He added: "These changes are very much in line with our strategy and will allow us to focus on where we can add value to ensure a long-term future for Shell in the basin.

"We are talking to staff about the proposal to sell the assets in order to be as open as possible, whilst confirming our commitment to the North Sea."

The Anasuria is located 115 miles (185km) east of Aberdeen. Shell has a 50% equity share, and the joint venture partner is Esso Exploration and Production UK Ltd.

Shell has a 58.1% share in the Nelson platform which is located about 124 miles (200km) east north east of Aberdeen.

The Sean production platform is located in the southern North Sea 68 miles (109km) north east of Lowestoft. Shell has a 25% equity share.

Related Internet links

The BBC is not responsible for the content of external Internet sites