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Media: Maersk Oil looking to buy Shell's North Sea assets

According to Reuters' sources, the soon-to-be independent oil company Maersk Energy plans to expand its business by USD 2 billion by acquiring Shell's North Sea activities.

Photo: Claus Bonnerup/ritzau

Maersk Oil could be about to give itself a significant welcome present. According to unnamed bank sources, the soon-to-be independent oil company is looking into a purchase of parts of Shell's North Sea activities. Assets allegedly totaling USD 2 billion, reports Reuters, to whom both parties have declined to comment on the matter.

According to these sources, Maersk Oil allegedly sees a potential for reducing the costs related to Shell's North Sea fields both in terms of operations and the coming decommissioning of end-of-life fields. But long before this cleanup becomes relevant, all the assets may have been sold off again. One of the sources notes that such a move would possibly be motivated by Maersk's desire to increase the business that will be sold off when this happens by no later than 24 months from now.

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