MARKETS

Shell sells out of Evans Shoal

ITALIAN major Eni has acquired Shell’s full 32.5% interest in the large undeveloped 8 trillion cubic feet Evans Shoal gas field, becoming operator of the Bonaparte Basin lease 300km northwest of Darwin and increasing its stake to 65%.

Shell sells out of Evans Shoal

The move comes after Santos sold its 40% stake in the field to Eni in 2011 for US$250 million, with a further $100 million contingent on a decision being made to develop the field - which has not happened...

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