Shell has completed the sale of its shares in its entities in New Zealand, including the Māui, Pohokura and tank farm assets, to OMV for $578 million.
The sale also includes Shell's interest in (and operatorship of) the Great South Basin venture, which was subject to a separate agreement.
The company says the sale is consistent with its global drive to simplify the upstream portfolio and re-shape the company into a world class investment.
Zoe Yujnovich, EVP, Australia and New Zealand, says: 'We are proud of having worked in New Zealand for more than 100 years and completion of the sale to OMV marks an important milestone in the company's history.'
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