Anglo-Dutch energy company Shell and U.S. ExxonMobil have decided to sell their joint venture NAM , a Dutch oil company producing natural gas in Europe. It is reported by Reuters.

According to the agency, NAM is one of the largest and oldest gas producers in the region. This decision to sell is due to the desire of Shell and Exxon Mobil to get rid of those assets that are no longer a priority. The same companies expect that, given the difficulties with fuel supplies from Russia, shares in the enterprises will be quickly sold.

The publication specified that the stakes of the companies were estimated at $1-1,5 bln, where they would divide the received sum equally between them. This does not mean that gas production will go down in the field.

According to a document obtained by Reuters, the NAM plants in 2021 produced about 2.4 million cubic meters of gas per day. At the same time, the level of production can be increased up to 2.8 million with additional investments in the capacity of enterprises. Despite the good level of production, the service life of the plants is gradually ending, so Shell and ExxonMobil do not want to invest in them anymore.

On September 5, the website of Shell reported that the company has decided to invest in developing the gas field Rosmari-Marjoram off the coast of Malaysia. The company added that the field is designed to produce 800 million cubic feet of gas per day. The expected start of gas production is scheduled for 2026.

Earlier we reported that the U.S. and the EU are increasing purchases of base metals, despite the sanctions.