Shell streamlines UK operations with sale of gas fields
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Shell U.K. Limited, a subsidiary of Shell plc, along with Esso Exploration and Production UK Limited, part of ExxonMobil Corporation, has agreed to sell its offshore natural gas assets in the Southern North Sea to RockRose Energy Limited, a subsidiary of Viaro Energy.
The sale includes Shell's interests in 11 gas fields and one exploration prospect, as well as the onshore Bacton Terminal. This divestment forms part of Shell's broader strategy to streamline its portfolio and concentrate on areas where it holds a competitive edge, particularly in the Central and Northern North Sea regions.
Viaro Energy, an independent British producer with a significant presence in the North Sea, will further solidify its position with this acquisition. The transaction, which is expected to be finalised in 2025 following regulatory approvals, aligns with Shell's long-term vision to build a more resilient and focused upstream portfolio. While Shell is divesting from the Southern North Sea, it remains committed to maintaining its role in the U.K.'s energy security, with ongoing investments in the Jackdaw and Victory gas fields.
Read more: Shell to sell offshore gas assets in the UK Southern North Sea to Viaro Energy