Shell has sold its 22.45-percent interest in the Anadarko-operated Caesar-Tonga field in the U.S. section of the Gulf of Mexico to Israeli Delek Group for US$965 million. Besides the field operator, Delek Group will join Chevron and Equinor as shareholder in the field. Its share in the field’s remaining reserves, according to the Israeli state company, amounts to 78 million barrels of oil equivalent over the 30 years that remain of the field’s productive life. As part of the deal, the Israeli company will also buy oil produced art the field over a period of 30 years. The divestment report comes on the heels of Shell’s entry into China’s shale gas industry via a joint exploration project with the country’s largest refiner and main shale gas player, Sinopec. The exploration will take place in the eastern Chinese province of Shandong where Sinopec’s shale operations are. Shell has been actively […]