Shell exits onshore Gabon with US$872m sale to Carlyle-backed Assala Energy
Shell sold its portfolio onshore Gabon to the Carlyle Group, through subsidiary company Assala Energy, for US$872 million. Assala will acquire Shell’s participation in five operated and four non-operated licences, plus control of the Gamba terminal. The Super Major leaves behind potentially challenging abandonment work, but retains an exploration foothold in Gabon through its deepwater Leopard gas discovery. The transaction marks Assala’s entry as an operator in Sub-Saharan Africa. But maintaining output on ageing fields will not be easy. Dealing with local content and licence extension will also be key to maximise value.