Royal Dutch Shell is reportedly selling a total of 16 assets worth more than US$500 million (£407.26 million) each, media sources reported.
The decision follows the supermajor’s US$30 billion (£24.43 billion) three-year asset sales programme.
“There are 16 assets currently in the market that are above US$500 million in value,” Shell head of upstream, Andy Brown, told media sources.
Shell Puts 16 Assets on Sale for $500 Million
Shell had launched the divestment programme to reduce its debt following the acquisition of BG Group for US$54 billion (£43.98 billion) earlier this year.
Since this summer, the company sold offshore assets in the Gulf of Mexico and a refinery in Denmark.
Shell acquired BG Group earlier this year
As well as this, it auctioned a package of North Sea assets valued at approximately US$2 billion.
However, progress on the overall divestment plan is still considered as insufficient by investors, especially as the company does not plan to cut dividends paid to shareholders.
Asset Package Could include Malaysia LNG Stake
According to people close to the matter, the group of 16 assets could include gas fields in New Zealand, Thailand and Gabon.
As well as this, the company is reportedly considering selling a stake in a liquefied natural gas (LNG) terminal in Malaysia, through the sale of a 15% participation in MLNG Tiga, which owns an LNG terminal in Sarawak, on the island of Borneo.
According to media sources, this could fetch more than US$1 billion (£814.5 million).
The package of assets confirmed by Shell includes a stake in the Buzzard oil field, which it gained from the BG Group acquisition.
Shell still operates older fields in the UK North Sea, namely the Brent project.
In the meantime, the company has also agreed to sell its Brutus/Glider operation in the Gulf of Mexico to EnVen Energy Corp. in August, for US$425 million (£346.17 million).