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  • Shell completes divestment of upstream interests in Ireland for up to $1.30 billion
    édité le 30/11/2018 - Plus de news de "SHELL" - Voir la fiche entreprise de "SHELL"


Shell completes divestment of upstream interests in Ireland for up to $1.30 billion
Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has completed the sale of its shares in Shell E&P Ireland Limited (SEPIL), which holds a 45% interest in the Corrib gas venture, for up to $1.30 billion (€1.14 billion), to Nephin Energy Holdings Limited (NEHL), a wholly-owned subsidiary of Canada Pension Plan Investment Board (CPPIB). Completion follows receipt of all necessary partner and regulatory consents and the transaction’s effective date is 1 January 2017.

The transaction includes an initial consideration of $958 million (€840 million), interest of $54 million (€47 million), and additional payments of up to $285 million (€250 million) between 2018-2025, subject to gas price and production. Completion of the deal represents Shell’s exit from the upstream sector in Ireland.

The sale will contribute to Shell’s $30 billion divestment target for 2016-2018.

Shell Energy Europe Limited (SEEL) has signed an offtake agreement to purchase Corrib gas following completion.

Shell retains a presence in Ireland through its aviation joint venture, Shell and Topaz Aviation Ireland Limited.

Notes:
The transaction is Euro denominated and all dollar figures are based on a Euro / USD exchange rate of 1.14.

About Royal Dutch Shell plc

Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.


Origine : Communiqué SHELL

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