Shell: divests upstream interests in Ireland.
(CercleFinance.com) - Royal Dutch Shell Shell has announced reaching an agreement with a subsidiary of Canada Pension Plan Investment Board ("CPPIB"), which holds a 45% interest in the Corrib gas venture, to sell its interest in Shell E&P Ireland Limited for up to 1.
23 billion dollars (1.08 billion euros).
The Anglo-Dutch energy giant will receive an initial payment of 947 million dollars, to which up to 285 million dollars in milestone payments will be added between 2018 and 2025, depending on gas prices and production.
The transaction marks Shell's exit from its upstream operations (exploration and production) in Ireland. Submitted for approval from partners and regulators, it is expected to be finalised in the second quarter of 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
23 billion dollars (1.08 billion euros).
The Anglo-Dutch energy giant will receive an initial payment of 947 million dollars, to which up to 285 million dollars in milestone payments will be added between 2018 and 2025, depending on gas prices and production.
The transaction marks Shell's exit from its upstream operations (exploration and production) in Ireland. Submitted for approval from partners and regulators, it is expected to be finalised in the second quarter of 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.