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Shell in Talks with BP over $250m Stake in North Sea Oil and Gas Field Shearwater

Shell is currently having discussions with BP over $250m Stake in North Sea Oil and Gas Field Shearwater. With this venture, the deal is valued to be around USD250 million (£193 million) which will almost double Shell’s share in the venture.

For this field, Shell holds a 28% stake in the field, followed by BP who has 27.5% while Exxon Mobile has the rest (44.5%).

According to a source both firms have discussed this for weeks and are nearing the closure of the deal. However, there are chances the deal may not happen.

Source: Oil and Gas People

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