Shell completes $1.3 bln sale of Corrib gas field stake to CPPIB
Royal Dutch Shell plc has completed its sale of a 45 percent interest in the Corrib Natural Gas Field in Ireland to Nephin Energy Holdings Ltd (NEHL), an affiliate of Canada Pension Plan Investment Board (CPPIB). The deal, announced last year, is valued at up to US$1.3 billion (€1.14 billion). In a separate statement, Calgary-based oil and gas company Vermilion Energy Inc, CPPIB's partner in the transaction, said it assumed management of the Corrib project. As a result, Vermilion will hold a 20 percent operated stake in the project, while NEHL will hold a 43.5 percent non-operated stake. The rest will continue to be held by Norway's Equinor ASA.
3 December 2018•2 mins read
