Shell has been safely operating in New Zealand for over 100 years. In August 2017 Shell Taranaki Limited took over operatorship of the Māui, Pohokura natural gas assets and Tank farms. Its share of Kapuni was sold to Todd Energy who now operate the Kapuni field.
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Royal Dutch Shell plc (Shell), reached an agreement today to sell its shares in Shell entities in New Zealand, to OMV for USD 578mln.
All approvals have been obtained and all necessary operational handover activities have been completed, to enable Todd Energy to take over operations of the Kapuni gas field in south Taranaki. This finalises the sale of Shell’s share (50%) of the Kapuni onshore gas field to New Zealand company, Todd Energy. Todd Energy is now the 100% owner and operator of the Kapuni field the oldest natural gas field in New Zealand.
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News and Highlights
Shell advises it has entered into a sale and purchase agreement (SPA) for the sale of Shell’s interests in the Kapuni assets to Todd Energy, a New Zealand company that has been in the Kapuni Joint Venture since the venture’s formation in 1955.
Regulatory approvals have been obtained finalising the sale of the Māui natural gas pipeline which transports around 78% of all natural gas produced in New Zealand, from the Māui Mining Companies (MMCs*) to infrastructure funds (including fund co-investors) managed by First State Investments (“First State Funds” FSF). The sale price was NZ$335 million.
The Māui Mining Companies (MMCs*) confirm the sale (subject to completion) of the Māui natural gas pipeline (which transports around 78% of all natural gas produced in New Zealand) to infrastructure funds managed by First State Investments (“First State Funds”).
Wellington, 10 December 2015 - In keeping with company’s strategy to become a simpler, more profitable and resilient company, Shell announced that its interests in New Zealand are under review.
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