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Shell eyes $700mln exit from Gabon - sources

Thu, 21st Apr 2016 14:57

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, as the oil giant seeksto refocus its African 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's Gabon holdingsinclude the Rabi Kounga and Gamba fields.

"Shell continuously evaluates opportunities for our globalportfolio in line with our business strategy," a companyspokesman said on Thursday.

(Reporting by Freya Berry and Ron Bousso; editing by LawrenceWhite)

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