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By Freya Berry and Ron Bousso
LONDON, April 21 (Reuters) - Royal Dutch Shell isworking on selling out of its onshore assets in Gabon, accordingto two sources familiar with the matter, seeking to refocus itsAfrican presence.
Bids are due in June for the fields, which one sourceestimated could be worth around $700 million. However the secondperson said that price indications were currently below Shell'sexpectations and that no sale may occur.
"Shell continuously evaluates opportunities for our globalportfolio in line with our business strategy," a companyspokesman said on Thursday.
The oil major has been operating in the west African countryfor more than 50 years. Its holdings include the Rabi Kounga andGamba fields.
Shell has announced plans to sell at least $30 billion worthof assets over the next three years, in order to finance its $52billion BG acquisition and focus its portfolio on deep water oilproduction and the rapidly-expanding liquefied natural gasmarket.
The sharp drop in oil prices over the past two years andcontinued uncertainty over the price recovery have neverthelesscrimped the market for oil production assets and limitedacquisitions in the sector.
It has also crimped the economies of many oil-dependentAfrican countries.
OPEC sources have said Gabon wants to rejoin it after morethan two decades, just as the oil exporters' group is taking thefirst steps in years to prop up prices.
Gabon has been seeking to diversify its economy away fromoil, focusing on attracting tourists and investors in sectorssuch as mining.
Shell has indicated that most sale processes for "upstream"oil and gas production assets would likely take place in 2017and 2018. (Reporting by Freya Berry and Ron Bousso; Editing by LawrenceWhite/Ruth Pitchford)
