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octubre 18, 2019
English Negocios Industriales

Shell divests participation in one of its deposits in the Gulf of Mexico

Royal Dutch Shell landed an agreement with the Israeli firm Delek Group to sell it its 22.4% participation in the Caesar Tonga oil field, located in the Gulf of Mexico, for 965 million dollars.

The reservoir, in which the subsidiary Shell Offshore is involved, has a foreseen useful life of more 30 years. Currently, the exploitation produces 71,000 crude oil barrels per day.

Delek Group estimates that its rights to the proven reserves of the Caesar Tonga field amount to 78 million barrels, as well as 16,000 barrels of crude per day.

“This is an important opportunity for Delek, because it gives us access to an oil productive asset with a stable extraction level since 2012, significant proven reserves, a solid cash flow, and an alliance with the leading players in the global energy market,” detailed the firm’s President and CEO, Asaf Bartfeld.

If the level of pumping prevails and the price of oil is around 60 dollars per barrel in the long term, the gross operating result (Ebitda) of Delek will increase by 230 million dollars annually, for the turnover from this field.

After the closing of the operation, the field will be exploited by Delek in association with Anadarko Petroleum, which holds 33.75% of the rights and is the main operator, Equinor, which holds 23.5%, and Chevron, with 20.25%.

Royal Dutch Shell

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