Shell exploring options to divest non-operated interests in Malaysia's Baram Delta

KUALA LUMPUR: As part of its continuous global portfolio rationalisation, Shell has decided to explore its options to divest its non-operated interests in the Amended 2011 Baram Delta EOR Production Sharing Contract (PSC) and the SK 307 PSC.

The assets located offshore Sarawak, Malaysia, are operated by Petronas Carigali Sdn Bhd, and Sarawak Shell Bhd is a non-operating partner.

"This decision is in line with the Shell Group's strategy for its Upstream business to become more focused and to increase its resilience and competitiveness.

" Shell Malaysia remains committed to supporting the operator in delivering safe and smooth operations until completion of a sale to a credible buyer," it said in a statement.

The British-Dutch multinational oil and gas company said Malaysia remains an important country to the Shell group with a continued strong presence in its upstream, gas-to-liquids, downstream and business operations sectors.

It noted that the upstream business in Malaysia has been identified as one of Shell Upstream's nine Core Performance Units worldwide.

Shell has been a partner to the nation's progress over its 130 years of operations in the country, contributing to the success of its energy industry, the development of Malaysian talent, and communities.

The company said it will continue to play an important role in powering Malaysia's future with cleaner, innovative and competitive energy solutions.

-- BERNAMA