Shell to sell remaining NZ assets to OMV for US$578 million

Thu, 15 Mar 2018

By Sophie Boot March 16 (BusinessDesk) - Royal Dutch Shell plans to sell its remaining New Zealand business to Austrian oil and gas giant OMV AG for US$578 million, as part of a US$30 billion international divestment programme. The deal includes Māui, Pohokura and the Tank Farms, along with the Great South Basin venture, which includes a drilling commitment currently estimated to be US$50 million, Shell said in a statement. The deal is likely to be completed by the fourth quarter of the year pending regulatory approvals. Current employees...

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