Shell to offload Norwegian assets to Okea

Royal Dutch Shell has reached an agreement with Norwegian oil company OKEA to sell its stakes in the Draugen and Gjøa oil field to the Scandinavian firm for NOK 4.52bn. The transaction, made via the oil and gas giant's local subsidiary Norske Shell, is expected to be completed by the end of the year. After acquiring Shell's 44.56% stake in Draugen, OKEA will become the new operator of the project. Shell told investors on Wednesday that decommissioning costs associated with the assets were ...

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