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Market Chatter: Shell to Sell Out of Many Norwegian Fields

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Royal Dutch Shell ( RDS.A ) ( RDS.B ), the Anglo-Dutch crude oil and natural gas titan, is seeking to sell out of the aging Draugen field in Norway and is also offering small stakes in a number of other fields, Reuters reported on Friday, citing a document.

Shell is offering its 44.56% stake in the Draugen field, which produces around 225,000 barrels per day, the sales brochure has shown, according to Reuters.

The sale process is part of Shell's drive to sell $30 billion of assets by the end of the year following the acquisition of BG Group in 2016. It has so far sold more than $25 billion, according to the report.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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