Shell to sell stakes in Malaysia’s Baram Delta


Dateline 2022-12-13, Offshore Technology:

Sarawak Shell Berhad, a Shell subsidiary, has agreed to sell its stake in two offshore production sharing contracts (PSC) in Malaysia’s Baram Delta to Petroleum Sarawak, an exploration and production firm.

The stakes would sell for $475m, with extra payments of up to $50m between 2023 and 2024, depending on commodities prices. The deals go into effect on 1 January 2023, and the company expects the deals to be finalised in early 2023, subject to the completion of requirements such as Petronas’ regulatory approval and Petronas Carigali Sdn Bhd’s consent.

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This entry was posted on Tuesday, February 21st, 2023 at 6:39 am and is filed under oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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