US oil major Chevron has agreed to sell its Trinidad and Tobago business to Shell.
The transfer of Chevron Trinidad and Tobago Resources to Shell’s BG International is understood to be worth $250million.
Chevron said on its website that the deal included its interests in three blocks in the East Coast Marine Area off Trinidad.
Chevron had a 50% non-operated working interest in the blocks.
The Dolphin field consists of a 13-well platform.
The Dolphin Deep field has two subsea wells and the Starfish field is made up of three wells, all tied back to the Dolphin Platform.
In 2016, net daily production from the three fields averaged 74 million cubic feet of natural gas. These volumes were sold under long-term sales contracts to supply the domestic market and for LNG exports.
Chevron also has a 50 percent operating interest in the Manatee Area of Block 6(d), a single cross-border field with Venezuela’s Loran Field in Block 2.
Recommended for you
