Shell to sell noncore Australia assets

11/15/1999
Royal Dutch/Shell's unit Shell Development (Australia) Pty. Ltd. has decided to sell its interests in a number of noncore assets in Western Australia. These include the company's 28.57% stake in Barrow Island oil field and its 35.71% interest in the Thevenard Island joint venture.The properties have been put up for tender.Barrow Island field is estimated to contain 110 million bbl of oil, while the six Thevenard-group fields (Saladin, Yammadery, Roller, Skate, Cowle, and Crest) are estimated to contain 35 million bbl of oil.Shell considers the assets mature and believes it is time to reconsider the company's continuing involvement in them.The assets are expected to fetch $150-200...
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