Royal Dutch Shell Plc (RDS-A) Wednesday announced that it has inked separate agreements for the acquisition of Murphy Schiehallion Limited 5.9% stake in the Schiehallion field west of Shetlands and for the sale of Shell's interest in the Seal area within the Peace River oil sands of Alberta, Canada to Murphy Oil Company Ltd.
The company stated that, under the agreements Murphy, an active developer in the Seal Area in Canada and Shell's partner in a number of assets, will take over Shell's interest and operatorship of all the Seal facilities and leases.
The company further added that the divestment will not impact its focus on growth activities within other parts of its Peace River leases.
The company stated that it has significant land holdings in the Peace River oil sands and has a regulatory application under review to increase its thermal production to 80,000 barrels per day with its Carmon Creek Project.
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