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Shell seeking $500 million in sale of Tunisian gas assets - sources
May 18, 2017 / 1:27 PM / 7 months ago

Shell seeking $500 million in sale of Tunisian gas assets - sources

LONDON (Reuters) - Royal Dutch Shell (RDSa.L) is seeking to sell its gas fields in Tunisia for some $500 million (£383.8 million), sources said, as the Anglo-Dutch company pushes forward with its vast disposal programme.

A Shell logo is seen reflected in a car's side mirror at a petrol station in west London, Britain, January 29, 2015. Picture taken January 29, 2015. REUTERS/Toby Melville/File Photo

The Tunisian assets, accounting for some 65 percent of the North African country’s gas production, were acquired as part of Shell’s $54 billion take over of BG Group last year.

The assets include two offshore gas fields -- Miskar, fully owned by Shell and Hasdrubal, 50 percent owned by Shell -- as well as an onshore production facility.

    In 2015, the fields produced 30,000 barrels of oil equivalent per day, according to BG Group’s annual report of the same year.

    According to two industry sources and another banking source, Shell is seeking to raise around $500 million from the sale.

    A Shell spokeswoman declined to comment.

    Shell has sold or agreed to sell more than $20 billion in assets over the past year as part of a $30 billion divestment programme aimed at reducing debt following the BG acquisition.

    Reporting by Ron Bousso, editing by David Evans

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