Shell Exploring Options to Divest Its Non-Operated Interests in Malaysia

Source: www.gulfoilandgas.com 3/12/2021, Location: Asia

As part of its continuous global portfolio rationalisation, Shell has decided to explore its options to divest its non-operated interests in the Amended 2011 Baram Delta EOR Production Sharing Contract (PSC) and the SK 307 PSC. The assets located offshore Sarawak, Malaysia, are operated by PETRONAS Carigali Sdn. Bhd. and Sarawak Shell Berhad is a non-operating partner. This decision is in line with the Shell Groupís strategy for its Upstream business to become more focused and to increase its resilience and competitiveness. Shell Malaysia remains committed to supporting the Operator in delivering safe and smooth operations until completion of a sale to a credible buyer.

Malaysia remains an important country to the Shell Group with a continued strong presence in its upstream, gas-to-liquids, downstream and business operations sectors. The upstream business in Malaysia has been identified as one of Shell Upstreamís nine Core Performance Units worldwide. Shell has been a partner to the nationís progress over its 130 years of operations in the country, contributing to the success of its energy industry, the development of Malaysian talent, and communities, and the company will continue to play an important role in powering Malaysiaís future with cleaner, innovative and competitive energy solutions.


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