Shell has sold its stake in the UK North Sea Maclure oil and gas field to Nobel Upstream.
The oil major said it had struck a sale and purchase agreement deal to sell its 7.59% stake in the non-operated interest.
The completion of the transaction will be subject to necessary approvals.
The Maclure field, in the UK North Sea, was discovered in 1991 and put into production in 2002.
Jeremy Huck, chief executive of Nobel Upstream, said:”We are very pleased to announce this acquisition and look forward to working with the other stakeholders and, in particular, Maersk who has demonstrated excellent operational management of this asset.
“This acquisition is a perfect fit with our growth strategy and an important addition to our existing portfolio in Azerbaijan and North America. We see further potential in the field and consider it a best-in-class North Sea opportunity.”
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