As per sources, the oil and gas major is considering selling its 50% stake in a cluster of fields located in the Clipper hub and the Leman Alpha complex, which could result in proceeds of $1bn
Shell is reportedly preparing to offload its stakes in the Clipper hub and the Leman Alpha complex in the UK North Sea. (Credit: Kristina Kasputienė from Pixabay)
Shell is reportedly planning to initiate the sale of its interests in two clusters of gas fields located in the southern part of the UK North Sea.
The sale is part of an ongoing withdrawal from the ageing basin by long-time producers, reported Reuters, citing undisclosed industry sources.
Shell is considering to offload its 50% stake in a cluster of fields located in the Clipper hub and the Leman Alpha complex, said three sources. The sources further said that the sale of the two operated assets of the company could result in proceeds of $1bn.
Natural gas drawn from the two assets is sent through a pipeline to the onshore Shel-operated Bacton gas terminal complex in eastern England.
Clipper is located in the North Sea’s Sole Pit area, which also includes the Barque field. The gas processing hub at the Clipper field has eight normally unmanned installations apart.
The gas field features six bridge-linked steel jackets.
The Clipper hub not only produces and processes gas drawn from its own wells, but also imports and processes gas produced from the Barque, Skiff, Galleon, Carrack, and Cutter fields.
The gas processing hub at the Leman Alpha complex has 11 normally unmanned installations. Located 69km off the coast of Lowestoft, the Leman Alpha complex has five platforms.
In recent years, Shell had divested several of its interests in ageing North Sea fields. These include a package of oil and gas producing assets sold to Harbour Energy in 2017 for $3.8bn.
Last October, Shell commenced production from the Arran gas and condensate field in the UK North Sea. The Arran field has been developed via a 60km subsea tie-back to the Shearwater platform.