Royal Dutch Shell plans to end its operations in 10 countries and sell 10 percent of its production as part of a $30 billion asset sale plan by 2018.
Shell Chief Executive Officer (CEO) Ben van Beurden said this in an update on the company’s strategy.
“We have earmarked up to 10% of Shell’s oil and gas production, including 5 to 10 country exits, for disposal,” Beurden said in a statement obtained from the company’s website.
Shell currently has its operations in more than 70 countries including Nigeria but the company wants to focus on 13 nations like Brazil, Australia and the United States. It did not say which countries it might exit but Reuters reported that Shell plans to sell its assets in Gabon.
It reported, however, citing the Shell CEO to have said the company was not considering leaving Nigeria but reaffirmed its liquefied natural gas and deep-water positions in the country.
Shell‘s operations have come under series of attacks by militants in Nigeria this year.
Attacks by Niger Delta Avengers on facilities operated by Shell Petroleum Development Company (SPDC), Shell’s Nigeria arm, have affected Nigeria’s oil exports.
Shell last week confirmed its 250,000 barrels a day giant underwater Forcados 48-inch pipeline had been hit again and was leaking. The pipe had been shut in February after a seawater attack.