Shell-ExxonMobil JV To Divest Oil and Gas Fields

Wednesday, October 24, 2007
The Nederlandse Aardolie Maatschappij joint venture between Royal Dutch Shell PLC (RDSA) and Exxon Mobil Corp. (XOM) intends to divest oil and gas fields in the Dutch part of the North Sea, following similar moves by the two companies in the neighboring U.K. offshore sector, Shell said. In an e-mailed statement, Shell said NAM wants to market producing fields connected to the NOGAT pipeline. It added that NAM will sell its share - which it didn't specify - in the NOGAT pipeline. NAM is 50 per cent-owned by Shell and 50 per cent by ExxonMobil. The total daily gas production from the platforms being put up for sale amounts to some 5.4 million cubic meters per day. Oil production amounts to some 1,700 barrels per day. Shell said in the statement that the intended sale does not imply that NAM will discontinue its North Sea operations, and that NAM continues to make substantial investments in its offshore activities. In June, Shell and ExxonMobil put up for sale U.K. North Sea oil and gas acreage as they reduce their exposure in the depleting basin to focus on large projects in the Middle East and Africa. [Source: Dow Jones]
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Wärtsilä Reports Healthy Ship Power Sector in Q1 2014

In its interim financial report January to March 2014 Wärtsilä notes healthy development in ship power and services offsetting challenges in power generation markets.

No Lift for Konecranes as Q1 2014 Profit Slips

Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March 2014 operating profit,

GulfMark Offshore Records Highest Ever Q1 Revenue

Houston-based GulfMark Offshore President & CEO Quintin Kneen commented on his company's first quarter 2014 financial report: "We recorded our highest first quarter revenue ever,

Shipbuilding

Newport News, ODU Partner for Bachelor's Degree Program

Huntington Ingalls Industries (HII) announced today that apprentices at Newport News Shipbuilding will now have the opportunity to earn a bachelor of science degree

Azeri Shipyard, BP Sign Vessel Construction Contract

Azeri state energy company SOCAR's shipyard and British oil major BP have signed a $378 million deal to design and build a subsea construction vessel for the Shah Deniz II gas project,

Fishing Vessels Fit with Wärtsilä’s NOx Reducer

Wärtsilä said its new NOx Reducer will be fitted to two new fishing vessels under construction at the Celiktrans yard in Turkey. The ships are owned by HB Grandi,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3412 sec (3 req/sec)