Shell has officially launched the sale of its shares in oil and gas fields it does not operate offshore Malaysia, according to a document seen by Reuters.
As Energy Voice reported in March, Shell said it was considering selling its stakes in the Baram Delta EOR and the SK307 production-sharing contracts which are operated by Petronas Carigali, a unit of state energy firm Petronas, offshore Sarawak.
The sale process for the two stakes, launched this month, is being run by investment bank J.P. Morgan, according to the sales document, reported Reuters.
Shell declined to comment when contacted by Energy Voice.
Shell owns a 40% equity interest in Baram Delta and 50% in SK307, with Petronas Carigali holding the remainder.
Shell’s portfolio holds total remaining reserves and resources of 230 million barrels of oil equivalent as of 2021, according to the document. Production is expected to reach 35,000 barrels of oil equivalent per day (boed) in 2022, and is forecast to grow to 44,000 boed by 2023, it said.