Global oil giant Shell has appointed merchant banker Lazard to advise it on the company’s assets sell-off after its mega-merger with BG Group.
Citing un-named sources, the Sunday Times last week said that Shell is now sounding out (un-named) buyers for parts of its ‘sprawling’ North Sea oil and gas operations.
When asked by Scottish Energy News to comment, Ben van Beurden, Shell Chief Executive, stated: “We are executing plans for a $30 billion divestment programme for 2016-17 as we consolidate BG into the portfolio.
“This will build over that three-year period and 2016 is likely to see asset sales that are below the $10 billion mark. The buyers are there, particularly in downstream and in local gas markets, and in non-traditional routes such as MLPs, private equity and other oil and gas companies.
“Our MLP, Shell Midstream Partners, is set to deliver about 10% to 15% of that total disposal target over the three years that I’ve just mentioned.”