Shell buys stakes\, gas licences in southern British North Sea

Shell buys stakes, gas licences in southern British North Sea

Shell agreed to buy 70 per cent of the P2252 license and will become its operatorREUTERS  |  February 08, 2019, 15:49 IST
Shell buys stakes, gas licences in southern British North Sea LONDON: * Royal Dutch Shell bought stakes and options in gas licences in the southern British North Sea estimated to contain a total of 190 million barrels of oil equivalent from Cluff Natural Resources, Cluff said on Friday.

* Cluff's P2437 license, of which Shell now has an option to buy 50 per cent until April 30, contains the Selene prospect next to Shell operated infrastructure linked to the Barque gas field which exports gas into the Bacton Gas Terminal.

* Shell agreed to buy 70 per cent of the P2252 license and will become its operator.

* The deal was advised by Gneiss Energy and Allenby Capital Limited.