Royal Dutch Shell Public Limited Company (Shell) has launched the sale of its share in oil and gas reserves off the coast of Malaysia. This includes its shares in the Baram Delta EOR and the SK307 production-sharing contracts (PSC), both of which are managed by Petronas Carigali Sdn Bhd, a subsidiary of state-owned Petroliam Nasional Berhad (Petronas). The sale of the stakes is being managed by JPMorgan Chase & Company (J.P. Morgan), an investment bank.
The sale is part of Shell’s plan to concentrate oil and gas production in nine hubs while reducing output and increasing expenditures in low-carbon energy to minimise greenhouse gas (GHG) emissions.