Shell Offshore has signed an agreement to sell 100% of its interest in marine blocks to EnVen Energy in a $425m deal.  

The Gulf of Mexico Green Canyon Blocks 114, 158, 202 and 248 to be sold are referred to as the Brutus/Glider assets.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Shell said that the latest move is in line with its global divestment plans. The transaction is slated for completion in October.

Assets include the Brutus Tension Leg Platform (TLP) and the Glider subsea production system, as well as the oil and gas lateral pipelines used to transport production from the TLP. 

"Over the next three years, Shell plans to sell around $30bn worth of assets to help pay for its acquisition of BG Group."

These assets have a combined production estimate of about 25,000boe/d at present.

See Also:

Global deepwater operator Shell has a development pipeline and production on-stream in the Gulf of Mexico, Brazil, Nigeria, and Malaysia, in addition to exploration and appraisal opportunities. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company currently produces about 600,000boe/d and plans to increase production to more than 900,000boe/d by the early 2020s.

Over the next three years, Shell plans to sell around $30bn worth of assets to help pay for its acquisition of BG Group made in February.

Reuters reported Shell chief financial officer Simon Henry as saying in July that the company plans to sell $6bn to $8bn of assets this year.