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Shell to sell three producing North Sea fields -report

Thu, 13th Feb 2014 23:26

Feb 13 (Reuters) - Royal Dutch Shell is planning tosell three oil and gas producing assets in the North Sea, theGuardian reported on Thursday, a move that supports theAnglo-Dutch oil major's existing plans to step-up divestmentsthis year.

Glen Cayley, vice-president of Shell's upstream business inEurope, said the company had been talking to staff about thepossible disposal of its Anasuria, Nelson and Sean platforms,the paper said on its website. ()

Shell, along with its peers in the industry, has been facingincreasing investor pressure to rein in spending as costs riseand prospects for oil prices wane.

A media report said in January that Shell planned to sell$15 billion worth of assets over the next two years includingsome North Sea fields.

Britain's production from the North Sea has been in declinesince 1999, with output plunging by a third from 2010 to 2012,acting as a drag on the country's economic growth.

Shell, the world's number-three among investor-controlledenergy firms, could not be reached for comment outside ofregular business hours.

Cayley said, the Guardian added, that this move had not beeninfluenced by the upcoming referendum on Scottish independence,which other energy bosses have signalled is further underminingthe North Sea investment climate.

The boss of BP, a big investor in Britain's North Seawaters and the country's second biggest oil company, warned lastweek that Scottish independence could cause his company"uncertainties".

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