Royal Dutch Shell announced today it has agreed to sell oil and gas assets in Western Canada for a total consideration of approximately US$1.037 billion (£847.364 million).
Royal Dutch Shell is reportedly selling a total of 16 assets worth more than US$500 million (£407.26 million) each, media sources reported.
Royal Dutch Shell is reportedly selling its participation in various offshore fields in Malaysia, according to media sources.
Teekay Offshore has been awarded new contracts by BP, Royal Dutch Shell and OMV Group to transport oil produced oil produced from the new Glen Lyon FPSO.
Royal Dutch Shell has failed to find any commercially viable hydrocarbons at its first exploration well offshore Canada.
Since the start of the week, various oil and gas companies have already announced significant job cuts across the industry, affecting different parts of the globe.
Oil platforms have been evacuated in the Gulf of Mexico, shutting down a large swathe of the regions oil production, as a tropical storm nears the region.
Plans for Shell to sell oil blocks in the Gulf of Mexico were announced by the supermajor this week in the wake of its major divestment programme disclosed earlier this year.
The Norwegian Petroleum Safety Authority (PSA) has approved A/S Norske Shell’s request to use its facilities offshore Norway as Shell takes over as the operator of fields previously belonging to the BG Group.
