Shell Sells North West Shelf Stake for 1.45 Billion
Abu Dhabi firm XRG will acquire Shells stake in the North West Shelf project for 1.45 billion dollars. The deal grants the company its first Australian asset.
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Shell plc will sell its 16.67% stake in the North West Shelf project to Abu Dhabi's XRG for $1.45B, marking the buyer's entry into Australia's energy sector. The transaction includes milestone-linked contingent payments and full transfer of decommissioning liabilities to the buyer. The divestment aligns with Shell's portfolio reshaping as legacy production fields face declining output.
