Shell in deal to exit Malampaya

摘要

SHELL has agreed to sell its operating stake in the giant Malampaya gas field offshore the Philippines in a deal worth up to $460 million. Taking on the stake from the Anglo-Dutch supermajor is Malampaya Energy XP, a subsidiary of Udenna Corporation - the latter a local company owned by Filipino tycoon Dennis Uy. Through the deal, Shell is divesting its 100% shareholding in Shell Philippines Exploration (Spex), which holds a 45% operating interest in Service Contract 38, which hosts the deep-water producing Malampaya field.