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

Upon completion of this acquisition Shell will have an 86.95% equity interest in CA1 PSA and will assume operatorship. The other partners in CA1 PSA are Murphy Oil Corporation with 8.05% and Petroliam Nasional Berhad (Petronas) with 5%.

Commenting on the deal, Managing Director for Shell Deepwater Borneo, Ivo Verstralen said, “This transaction is consistent with Shell’s deep water strategy to deliver competitive growth from a diverse international portfolio. We look forward to playing our part in a strong and established industry that is helping Brunei to meet its energy needs.”

UPDATE 8 April 2020: B.V. Dordtsche Petroleum Maatschappij (Shell), a subsidiary of Royal Dutch Shell Plc, and Total Holdings International B.V. have completed the deal that sees Shell acquiring 100% of the shares in Total’s wholly owned subsidiary, Total E&P Deep Offshore Borneo B.V. (TEPDOB). Shell has now assumed operatorship of the block.