Nogat News

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.

Nederlandse Aardolie Maatschappij (NAM) intends to market a number of its offshore licenses, consisting of producing fields in the NOGAT area on the Dutch continental shelf. The producing fields are L2-FA, L2-FB, L5-FA, L12-FC and L15-FA, and the combined oil and gas producing F3-FB field. The fields and facilities to be divested are located in an area of the North Sea to the northwest of Den Helder and are interconnected by the NOGAT pipeline, through which natural gas is transported to the NAM operated processing plant at Den Helder. NAM also intends to divest its share in NOGAT. The intended transfer of ownership is part of NAM's long-term strategy.