Shell is set to sell its interest in six Gulf of Mexico oil and gas fields as Total buys shares in three Gabon sites.
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The Shell sale, part of the company's continued $8bn divestment of global assets, will see six interests, mainly mature gas fields, in the Gulf of Mexico change ownership to W&T Offshore Inc for $450m, back dated to 1 September 2010.
The fields produce and estimated 18,000 barrels of oil equivalent per day, with reserves of 27m boe/d. Shell stated that it will continue to invest in the Gulf of Mexico, where it currently produces around 230,000 boe/d.
Meanwhile in Africa, French producer Total has is set to re-establish its activities in Gabon where it has taken percentage interests in three fields in the Central and Southern regions of the country.
Total, which has had a presence in Gabon for 80 years, stated that the latest acquisitions "reflect Total’s commitment to reviving its onshore exploration operations in Gabon, particularly in under-explored transition zones”.