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Eversheds Sutherland acts for Shell on US$329 million sale of Shell Exploration and Production Oman Limited

  • United Kingdom
  • Global

    09-04-2018

    Eversheds Sutherland has acted for and assisted Shell on the strategic sale of Shell Exploration and Production Oman Limited (SEPOL) to Indian Oil Corporation subsidiary IOCL Singapore PTE Ltd, in a transaction worth US$329 million.

    As a result of the deal, Indian Oil Corporation will hold a 17% interest in the Mukhaizna Production Sharing Agreement in Oman, as well as the Marketing Rights for entitlement oil. The sale is part of Shell’s wider strategy to sell non-core assets or companies to meet its divestment target of US$30 billion.

    The Eversheds Sutherland team was led by Legal Director Jubilee Easo and included tax Partner Ben Jones.

    Global Relationship Partner Mark Davenport commented:

    “Shell is a key client. We are delighted to continue to support them on their strategic goal of becoming a simpler, more resilient and focused company – through this transaction and also advising them in December 2017 on their acquisition of First Utility in the UK”.

    For more information contact

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    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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