NAM to sell Dutch offshore licenses, stake in NOGAT pipeline

Nederlandse Aardolie Maatschappij (NAM), a Dutch exploration and production company jointly owned by Royal Dutch Shell PLC and ExxonMobil Corp., will sell several mature producing offshore licenses on the Dutch continental shelf.

Uchenna Izundu
International Editor

LONDON, Oct. 19 -- Nederlandse Aardolie Maatschappij (NAM), a Dutch exploration and production company jointly owned by Royal Dutch Shell PLC and ExxonMobil Corp., will sell several mature producing offshore licenses on the Dutch continental shelf.

The fields, L2-FA, L2-FB, L5-FA, L12-FC and L15-FA, and combined oil and gas producing F3-FB field, are in the North Sea northwest of Den Helder. They connect to the NOGAT pipeline, which delivers gas to the NAM-operated processing plant at Den Helder. NAM's share in NOGAT, which was not specified, is also for sale.

Interested buyers will acquire 5.4 million cu m/day of gas production and oil production of 1,700 b/d from all of the platforms.

NAM Managing Director Roelf Venhuizen said the joint venture will continue to operate Groningen gas field and "will continue to produce and develop our small-fields portfolio for as long as we can add value." Employees would keep their jobs, and the venture is carrying out consultations with NAM staff council.

NAM pledged its commitment to its North Sea operations and is investing hundreds of millions of euros to further develop the L9 Block.

Contact Uchenna Izundu at uchennai@pennwell.com.

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