Shell

Transaction Type
Sellers
Marketers
Basin
North Sea
Field
Bacchus
Post Date
Close Date
Estimated Price
0MM
Description

Shell has retained IndigoPool to divest its entire interests in two blocks in the U.K. North Sea. The package includes Block 22/6s (North), which contains a 20% interest in Bacchus Field, and Block 21/9, which includes a stake in the Val d'Isere prospect.

Houston-based Apache Corp. operates both offshore licenses, which are near the company's operated Forties Field, the North Sea's largest oil field. The U.K. Department of Energy and Climate Control (DECC) recently approved the operator's development plans for Bacchus Field. Apache intends to tie back three horizontal subsea wells to Forties Alpha platform via a pipeline bundle and expects to commence oil production by mid-2011.

Apache is also actively exploring the Val d'Isere prospect, and any discovery would directly benefit from the experience gained on the Bacchus development.

The online data room is open. The bid due date is Aug. 20. Contact Gemma Hale, +44-207-074-3079, ca-coordinator@indigopool.com.