LONDON, July 22 (Reuters) - Royal Dutch Shell
launched the sale of its stakes in oil and gas fields it does
not operate off the coast of Malaysia, according to a document
seen by Reuters.
The Anglo-Dutch company announced in March that it was
considering selling its stakes in the Baram Delta EOR and the
SK307 production-sharing contracts which are operated by
Petronas Carigali Sdn Bhd, a unit of state energy firm Petronas.
The sale process for the two stakes, launched this month, is
being run by investment bank J.P. Morgan, according to the sales
document.
Shell declined to comment. J.P. Morgan did not immediately
reply to a request for comment.
The sale is part of Shell's strategy to focus its oil and
gas production in nine hubs as it gradually reduces output and
grows investments in low-carbon energy in order to reduce
greenhouse gas emissions.
Sarawak Shell Berhad owns a 40% equity interest in Baram
Delta and 50% in SK307, with Petronas Carigali holding the
remainder.
Shell's portfolio contains total remaining reserves and
resources of 230 million barrels of oil equivalent as of 2021,
according to the document. Production is expected to reach
35,000 barrels of oil equivalent per day (boed) in 2022, and is
forecast to grow to 44,000 boed by 2023, it said.
(Reporting by Shadia Nasralla and Ron Bousso; Editing by Chizu
Nomiyama)