Shell sells in Gulf as Total buys in Gabon
Shell is set to sell its interest in six Gulf of Mexico oil and gas fields as Total buys shares in three Gabon sites.
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The Shell sale, part of the company's continued $8bn divestment of global assets, will see six interests, mainly mature gas fields, in the Gulf of Mexico change ownership to W&T Offshore Inc for $450m, back dated to 1 September 2010.
The fields produce and estimated 18,000 barrels of oil equivalent per day, with reserves of 27m boe/d. Shell stated that it will continue to invest in the Gulf of Mexico, where it currently produces around 230,000 boe/d.
Meanwhile in Africa, French producer Total has is set to re-establish its activities in Gabon where it has taken percentage interests in three fields in the Central and Southern regions of the country.
Total, which has had a presence in Gabon for 80 years, stated that the latest acquisitions "reflect Total’s commitment to reviving its onshore exploration operations in Gabon, particularly in under-explored transition zones”.
