Oil giant Shell is selling more assets as part of plans to offload £9billion worth of assets worldwide.
It confirmed today it had struck deals to sell a 30% stake in four Nigerian onshore oil and gas fields and a pipeline to unnamed domestic buyers for nearly £3billion.
The Niger Delta oil mining licences were first proposed for sale last year.
Also being sold is the 150,000 barrel per day Nembe Creek Trunk Line, which carries oil from the delta to the Atlantic coast for export.
Shell’s 30% stake is part of an ownership partnership which also includes the Nigerian National Petroleum Corporation, France’s Total and Italy’s Eni.
Earlier this year, Shell announced it was to carry out a review of North Sea operations as part of its £9billion sell-off plans.
Ben van Beurden, who became chief executive at the start of the year, said the Anglo-Dutch company would be making “hard choices” about all of its assets after a 48% slump in quarterly profits.
Last month, Shell unveiled plans to cut 250 UK jobs over the next year.
Full-time staff and contracted employees were expected to suffer in an overhaul of onshore operations, which Shell said would help it “build a stronger long-term business in the North Sea”.
The firm’s asset disposals this year include downstream businesses in Australia, sold for £1.5billion to energy trader Vitol Group.
In February, Shell announced plans to sell three North Sea fields – Anasuria, Nelson and Sean fields – from among 150 “core performance” units under review.
The firm has also offloaded refineries in the UK, Germany, France, Norway and the Czech Republic.
Shell launched its sell-off after coming under growing pressure from a worsening security situation in Nigeria, where it has a long-term presence, weak refining margins and low natural gas prices in North America.
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