Shell Sells $1.3 Billion Of Assets In Norway, Malaysia

Royal Dutch Shell Plc (NYSE: RDS.A) announced the sale on June 20 of oil and gas assets in Norway and Malaysia for over $1.3 billion, bringing it closer to a target of $30 billion in disposals by year-end.

The Anglo-Dutch company agreed to sell to OKEA, a Norwegian producer backed by private equity firm Seacrest Capital, its 45% interest in the Draugen Norwegian offshore field and a 12% in the Gjoa block for a total of $566 million, the two companies said.

Earlier, Shell announced the completion of the sale of a 15% stake in Malaysia LNG (MLNG) Tiga to the Sarawak State Financial Secretary for $750 million.