Jul 01, 2026
Shell plc has agreed to sell its 50% non-operated interest in the Na Kika platform and associated fields, along with its wholly owned Coulomb subsea tieback, to subsidiaries of Talos Energy and Ridgewood Energy in a transaction valued at $1.7 billion. The deal, which remains subject to regulatory approvals and customary closing conditions, is expected to close by the end of 2026.
The agreement includes customary purchase price adjustments, contingent payments tied to future performance, and uncapped upside-linked payments through 2027. Shell will also retain overriding royalty interests on future Na Kika tieback developments under certain conditions, while maintaining rights to market production from the assets through negotiated offtake agreements. Buyers will assume specified decommissioning liabilities and provide financial security for those obligations.
The assets produced approximately 37,000 barrels of oil equivalent per day net to Shell in 2025. However, the company said Na Kika and Coulomb are not expected to make a meaningful contribution to its production by 2030, supporting the rationale for the divestment.
The transaction continues Shell’s strategy of concentrating capital on its highest-return upstream assets while monetizing mature production. The company remains the largest producer and leading deepwater operator in the Gulf of America, where it continues to view the basin alongside offshore Brazil as one of its most profitable and lowest-carbon oil and gas regions. Na Kika, which began production in 2003, is Shell’s only non-operated platform in the basin, while the Coulomb tieback started production in 2005. BP operates Na Kika and retains the remaining 50% working interest, with a preferential right to acquire Shell’s interest before the sale can be completed.
Oilprice.com
