Shell selling 16 upstream assets

Royal Dutch Shell is currently offering 16 assets worth more than $500 million for sale as part of its vast $30 billion three-year asset sales program, the oil and gas company's head of upstream Andy Brown said on Wednesday, Reuters reported.

 

The Anglo-Dutch company launched the program to reduce its debt following the acquisition of BG Group earlier this year. Uncertainty over the future oil price has led to a sharp slowdown in deal making in the sector in recent years.

 

"There are 16 assets currently in the market that are above $500 million in value," Brown told the Oil and Money conference in London.