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Shell Signs Agreement to Acquire Total E&P Deep Offshore Borneo B.V.

Oct 30, 2019

Brunei - Dordtsche Petroleum Maatschappij (Shell), a subsidiary of Royal Dutch Shell Plc, has signed an agreement with Total Holdings International B.V., effective January 1, 2019, for the acquisition of 100% shares in their wholly owned subsidiary, Total E&P Deep Offshore Borneo B.V. (TEPDOB), which holds 86.95% participating interest in CA1 Production Sharing Agreement (PSA), offshore Brunei for USD $300 mln. The transaction is subject to certain closing conditions and regulatory approvals and is targeted to complete end 2019.