ROYAL Dutch Shell is reported to be in talks with potential bidders for North Sea assets as the company looks to raise $30 billion (£23bn) from disposals to cut debt. The Financial Times said the Anglo Dutch oil and gas giant has held early stage discussions with the Neptune and Siccar Point businesses, which have won backing from private equity giants to pursue growth through acquisitions. Led by a former head of Centrica’s North Sea business, Jonathan Roger, Siccar Point recently bought an 8.9 per cent stake in the Mariner field East of Shetland from JX Nippon of Japan. Shell has said it wants to make significant progress on deals worth around $8bn this year. Led by chief executive Ben van Beurden, Shell has made clear it wants to reduce its investment in mature North Sea fields. However, the crude price plunge has dampened enthusiasm for North Sea deals and made it hard for buyers and sellers to agree prices.
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