Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”.
Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this release refer to entities over which Royal Dutch Shell plc either directly or indirectly has control.
These terms are also used where no useful purpose is served by identifying the particular entity or entities. Likewise, the words “we”, “us” and “our” are also used to refer to Royal Dutch Shell plc and subsidiaries in general or to those who work for them. In this release “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. Shell A/S Norske Communications +47 41 50 3540 Cautionary Note Shell International Media Relations +44 (0) 20 7934 5550 All amounts have been rounded to the nearest million. * The transaction is NOK denominated and all USD figures are based on a NOK/USD exchange rate of 8.13 (published Norges Bank as of 15 June 2018). The amounts in items (2) and (3) are undiscounted. Shell retaining 80% of the decommissioning liability of the two assets up to an after-tax cap of $78 million (NOK 638 million) subject to CPI indexation.A future payment by Shell to OKEA of $46 million (NOK 375 million) subject to CPI indexation upon OKEA completing the decommissioning of the assets and.Cash consideration of $556 million (NOK 4,520 million),.The transaction comprises three key elements: A/S Norske Shell continues to be the Technical Service Provider of the Nyhamna Gas Processing Plant, and partner in the Norwegian full-scale CCS project and CCS test facility at Mongstad. In addition, Shell is drilling two exploration wells on the Norwegian continental shelf this year. Shell remains committed to Norway, operating Ormen Lange and Knarr and partnering in Troll, Valemon and Kvitebjørn. Draugen has been a defining asset for Shell in Norway, and we are confident it will prove to be similarly important to OKEA as a springboard in further developing their operating capabilities on the Norwegian Continental Shelf.“ This deal is a good strategic move for both companies. They will also be welcoming transferring staff in Kristiansund and Stavanger in order to leverage their substantial experience and competence for the safe and efficient operation of Draugen in the future. “We are happy that OKEA’s ambition is to uphold and strengthen Draugen’s footprint in mid-Norway. “We are pleased to have found a buyer with an experienced leadership team and with a business strategy that aligns very well with the opportunities offered by Draugen and Gjøa” said Rich Denny, Managing Director of A/S Norske Shell.
Fast way to find draugen full#
On completion, Draugen staff onshore and offshore are expected to transfer to OKEA with full continuity of service. We continue to have strategic, long-term positions in Troll and Ormen Lange and are actively seeking new growth opportunities.” “Shell has a long and proud history in Norway. “This deal is part of Shell’s global, value-driven $30bn divestment programme and is consistent with our strategy to high-grade and simplify our portfolio”, said Andy Brown, Shell’s Upstream Director. The Shell share of the assets’ production amounted to approximately 25 kboe/d in 2017, representing about 14% of Shell’s Norwegian production in 2017. The decommissioning costs associated with the assets are currently estimated to be $120 million after-tax (NOK 1,000 million) Shell will retain 80% of this liability up to an agreed cap and OKEA will assume the remaining liability. Upon completion OKEA will become the new operator of Draugen. The transaction’s expected effective date is 1 January 2018. Together, you must explore this scenic coastal community - nestled amongst the fjords and mountains of rural Norway - in your search for Edward's sister, and unearth the darkness that lies beneath the picturesque surface.The transaction is subject to regulatory approval and is expected to complete in Q4 2018. But you're not alone: at every step of the way, Edward's accompanied by his ward, Lissie a gregarious, independent and enigmatic young woman. You play Edward Charles Harden, an American traveller who's come to Norway to find his missing sister. From the studio that brought you Dreamfall Chapters, and the creative team behind The Longest Journey and The Secret World, comes a first-person psychological mystery set in 1920s Norway.