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Media: Shell on its way out of the North Sea

Shell, one of the major players on the North Sea shelf, will cut its presence down to a minimum after the BG-acquisition, reports the Sunday Times. A new company could take over.

Photo: Alastair Grant/AP/Polfoto

Shell is looking to sell USD 30 billion worth of assets after last year's acquisition of BG for USD 35 million. The British/Dutch oil company has not officially declared which fields it will sell, but according to the Sunday Times the company is looking to the North Sea. The company has itself confirmed that North Sea sales are being considered.

"A review of all assets, including the North Sea, are underway as part of our commitment to share sales of USD 30 billion,"a Shell spokesperson tells the Financial Times.

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