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MIL-OSI Australia: Shell Invests in the Whale Development in the Gulf of Mexico

MIL-OSI Australia: Shell Invests in the Whale Development in the Gulf of Mexico
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Director/PDMR shareholding

Director/PDMR shareholding
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Shell Books Floatel s Accommodation Rig for

Shell Signs Agreement To Sell Interest In Malampaya, Philippines

Shell Signs Agreement To Sell Interest In Malampaya, Philippines Shell Petroleum N.V. has signed an agreement with Malampaya Energy XP Pte Ltd (a subsidiary of Udenna Corporation), for the sale of its 100% shareholding in Shell Philippines Exploration B.V. (SPEX). SPEX holds a 45% operating interest in Service Contract 38 (SC38), which includes the producing Malampaya gas field. The base consideration for the sale is US$380M, with additional payments of up to US$80M between 2022 to 2024 contingent on asset performance and commodity prices. Subject to partner and regulatory consent, the transaction is targeted to complete by the end of 2021. “Since it began commercial operations in 2002, Malampaya has supplied a significant portion of the Philippines’ energy demand and it will continue powering the country with indigenous gas following a safe transition of the asset and its experienced workforce,” said Wael Sawan, Shell’s Upstream Director. “Today’s announcement is consi

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