Royala Dutch Shell has reached an agreement to sell its shares in New Zealand upstream asset to OMV
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Royala Dutch Shell has reached an agreement to sell its shares in New Zealand upstream asset to OMV. The Sales and Purchase Agreement is subject to certain conditions which include normal regulatory approvals and is likely to be complete by Q4 of 2018. The employees of Shell Taranaki Limited and Shell New Zealand will become part of OMV New Zealand, upon completion of the deal. The economic effective date of the transaction is January 1, 2018. Average production of the acquired assets in the first two months of 2018 was around 31,000 boe/d
List of the country updates
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