Shell Sells North Sea Oil Field For Undisclosed Fee

Published at 12:43PM - 10/02/16

Royal Dutch Shell sells North Sea oil field, in a transaction with UK independent Nobel Upstream for an undisclosed fee.

Nobel Upstream CEO, Jeremy Huck, said: “We are very pleased to announce this acquisition and look forward to working with the other stakeholders.”

Shell Sells North Sea Oil Field

The deal announced Wednesday involves Shell’s stake in the Maclure field; a subsea oil field that ties back to the Maersk operated Gryphon FPSO.

Maersk Oil also acts as operator of Maclure on behalf of partners TAQA 37.04%; Apache 17.18%; and now Nobel Upstream, holding Shell’s 7.59%. Maersk Oil holds the majority 38.19% stake.

Huck added: “This acquisition is a perfect fit with our growth strategy and an important addition to our existing portfolio in Azerbaijan and North America.”

“We see further potential in the field and consider it a best-in-class North Sea opportunity.”

North Sea Maclure Oil

The Maclure oil field is located approximately 175 miles (282km) offshore Aberdeen, Maclure ties back subsea to the Maersk Gryphon FPSO.

Discovered in 1991 and brought on stream in 2002, the Maclure oil field currently produces around 8,000 barrels of oil per day.