Shell looks to sell part of Malaysian ops

Royal Dutch Shell is considering the sale of its stake in a Malaysian liquefied natural gas export plant, MLNG Tiga Sdn, which is worth more than US$1 billion, according to an article by Bloomberg.Bloomberg in the article stated that the move may have been a part of the company’s conscious effort to US$30 billion from asset sales in the three years through 2018. This would largely help the company pay off its borrowings following the acquisition of BG Group Plc prompted Fitch Ratings Ltd.Moreover, Shell stated in a press release on its website that it has also reached an agreement with SEA Hibiscus Sendirian Berhad, an indirect wholly owned subsidiary of Hibiscus Petroleum Berhad, for the sale of its 50% equity interest in the 2011 North Sabah EOR Production Sharing Contract (PSC) in Malaysia for $25 million.On being reached out by Marketing, a spokesperson from the company said, “Shell regularly receives expressions of interest for our assets and we continue to evaluate all opportunities and proposals. Any discussions of this sort are commercially confidential.”