Schiehallion FPSOShell has acquired 5.9% of Murphy Schiehallion Limited's stake in the Schiehallion field west of Shetlands, the supermajor announced on 14 November 2012.
Shell now holds 55% stake in Schiehallion field. The move will offer the company access to substantial additional reserves and redevelopment potentional in the UK, the company said.
In exchange for its Schiehallion interest, Murphy will take over Shell's interests and operatorship of all its Seal Area facilities and leases in Canada.
'This divestment does not impact Shell's focus on growth activities within other parts of its Peace River leases,' Shell said in a statement.
Shell maintains land holdings in the Peace River oil sands and has a regulatory application under review to increase its thermal production to 80,000 bpd with its Carmon Creek Project.
In May, Shell acquired Hess' 15.67% stake in the BP-operated Schiehallion field, its associated FPSO and the West of Shetland pipeline system.
Discovered in 1993, Schiehallion was brought into production in 1998. The field is located in blocks 204 and 205, approximately 175km west of the Shetland Islands.
BP holds 33.3% stake in Schiehallion. Its partners include Shell (55%), Statoil (5.9%), and OMV (5.9%).
Subscribe
