Shell has announced it has reached an agreement to divest its stake in the Gaza Marine license offshore Palestine.
The energy giant held a 90% stake in the project, its only one in Palestine.
The agreement was made with Palestine Investment Fund (PIF), with the equity being transferred to PIF at the signing of the sale and purchase agreement.
A spokeswoman for Shell said: “The deal is consistent with its strategy to high-grade and simplify its portfolio. “
Shell acquired the asset through acquisition of the UK’s BG Group in 2016.
Recommended for you
