Energy giant Shell has shortlisted three bidders for the sale of its southern North Sea gas assets, reported Bloomberg citing undisclosed sources.
The final bid was made by Ithaca Energy, Perenco, and a newly formed company Viaro Energy as they race to buy Shell’s assets, the sources said.
The assets up for sale, which include the Leman Alpha hub, the Clipper field and the Bacton gas terminal, could be valued at between $600m and $800m.
Shell, Perenco, Ithaca, and Viaro representatives declined to comment on the development.
As oil majors mostly exited from the ageing basin in the last ten years, ownership of North Sea fields has undergone significant shift, the publication said.
Private equity-backed corporations, smaller exploration and production organisations, and a few new players have all purchased these assets.
While these businesses might inject new capital into the area, the UK’s decision to impose a windfall tax on producers last year has raised concerns about deriving profits from these operations.
Two of the individuals stated that Shell’s selling process results are anticipated to be made public in the upcoming weeks.
The divesture, which was announced in September of last year, is a part of Shell’s strategy to focus on bigger, newer projects globally while cutting costs by selling off aged oil and gas assets.
In November 2022, its was reported that Shell intends to sell shares in a number of UK North Sea oil fields.
