Saturday, September 23, 2017

Shell Exiting Ireland Upstream Sector

Posted by July 12, 2017

Royal Dutch Shell said it is selling its stake in the Corrib gas venture in Ireland for up to $1.23 billion, marking its exit from the upstream business in Ireland.
 
The buyer is a unit of Canada Pension Plan Investment Board and the deal includes an initial consideration of $947 million and additional payments of up to $285 million between 2018-2025, subject to gas price and production, Shell said in a statement.
 

The transaction, which is subject to partner and regulatory approval, is expected to complete in the second quarter of 2018, Shell said on Wednesday.

 

Reporting by Rahul B 

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