11 April, 2019
Royal Dutch Shell has announced that it will sell its 22.5% stake in an offshore field in the US Gulf of Mexico to Israel’s Delek Group for £738m.
The Caesar-Tonga oil field is located 190 miles south-southwest of New Orleans and is currently producing an average of 70,000 barrels of oil equivalent per day.
Field operator Anadarko holds a majority 33.7% interest, while Norwegian oil major Equinor owns 23.5% and Chevron has the remaining 20.3% share.
When production began in 2012, it was believed that the field held approximately 400m barrels of oil equivalent.
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