22 October 2017
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Shell steps back selling its Kuwait subsidiary

04 October 17 - RE+D Magazine
Shell steps back selling its Kuwait subsidiary

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Antulio Richetta

Director IBI Group
Royal Dutch Shell announced earlier today that its subsidiary, BG Asia Pacific Holdings Pte Limited, and KUFPEC Thailand Holdings Pte Limited, a subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC), have mutually agreed to cancel the Sale & Purchase Agreement for the share sale of Shell Integrated Gas Thailand Pte.

 

Limited (SIGT) and Thai Energy Co Limited (TEC).

SIGT and TEC will continue to support PTTEP in both the safe and efficient operation and further development of Bongkot.

SIGT also intends to participate in the forthcoming licensing round for the extension of the Bongkot concession, according to the company’s official statement.

Shell Group’s divestment programme continues to make good progress at both raising cash and re-shaping the company.

To date, the company has more than $25 billion in completed, announced or in progress divestments, on track to meet its target of $30 billion of divestments between 2016 and 2018.

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