One-Page Deal Sheet
Shell to Drop Interest in Australian Wheatstone Projects to KUFPEC
Kuwait Foreign Petroleum Exploration Company Shell plc
Announced Date
January 20,2014
Close Date
May 29,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
1135
Asset/Basin:
{"Carnarvon Basin"}
TargetZones:
{"Wheatstone gas fie
Transaction Details: Subscribe to see
Royal Dutch Shell plc has agreed to sell its 8% equity interest in the Wheatstone-Iago Joint Venture and 6.4% interest in the 8.9 million tonnes per annum Wheatstone liquefied natural gas (LNG) project in Western Australia for a cash consideration of US$1,135 million to the Kuwait Foreign Petroleum Exploration Company (KUFPEC), subject to closing.
Shell Chief Executive Officer Ben van Beurden commented: "Shell will remain a major player in Australia's energy industry. However, we are refocusing our investment to where we can add the most value with Shell's capital and technology. We are…
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