Shell in talks to sell assets in the Gulf of Mexico for US $ 1.3 billion

Royal Dutch Shell Plc is in talks to sell its assets in a Gulf of Mexico oil field to Focus Oil to pay for its acquisition of BG Group Plc, Bloomberg reported Thursday, citing people familiar with the matter.

The agreement could value Shell’s participation in the Caesar Tonga field at around US $ 1.3 billion, according to the report.

Shell holds a 22.5% stake in Caesar Tonga, with the rest owned by companies such as Anadarko Petroleum Corp, Equinor ASA and Chevron Corp, Bloomberg said, citing company statements.

Shell and Focus Oil did not immediately respond to a request for comment.

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