BAKU, Azerbaijan, September 23. Shell Offshore
Inc., a subsidiary of Shell plc, has completed the previously
announced sale of its interests in the Na Kika platform and
associated fields in the Gulf of America, as well as its wholly
owned Coulomb tieback, the company said.


Shell received approximately $840 million in cash proceeds from
the transaction, including adjustments between the effective date
of July 1, 2025 and closing. The assets were acquired by a
subsidiary of Talos Energy and an affiliate of Ridgewood
Energy.


"The total consideration announced when the deal was signed was
$1.7 billion, before customary adjustments and certain contingent
payments. Shell will also receive uncapped upside-linked payments
through 2027 and overriding royalty interests on production from
new Na Kika tiebacks, subject to certain conditions," the company
said.


As part of the transaction, the buyers will assume certain
decommissioning obligations and provide security for those
obligations. Shell Trading US Company will retain offtake rights
from Na Kika and Coulomb under agreements negotiated with the
buyers.


For 2025, Shell's entitlement share of production from the
assets was 37,000 barrels of oil equivalent per day. However,
Shell's modelling indicates that Na Kika and Coulomb will no longer
be meaningful contributors to its production by 2030.


The Na Kika semi-submersible platform started production in
2003, while production from the Coulomb tieback began in 2005. BP,
which operates Na Kika, holds the remaining 50% working interest in
the platform.


Shell reported proved reserves of 4.3 million boe for Na Kika
and 7.2 million boe for Coulomb at the end of 2025.







The transaction is part of Shell's efforts to actively manage
its portfolio and strengthen the resilience and competitiveness of
its Upstream business.


Shell said its Deep Water business is focused on scale,
efficiency and the use of existing infrastructure. The company
describes the Gulf of America and Brazil as two of the
highest-margin and lowest-carbon production basins in the world,
and says it is the only international oil company with a leading
portfolio position in both.


The Gulf of America, formerly known as the Gulf of Mexico, is a
core area of Shell's US upstream operations. According to Shell,
the company is the leading deep-water operator and largest oil and
gas producer in the Gulf of America, while the US remains a key
market and major destination for Shell investment.


Shell has operations and interests across all 50 US states and
is also one of the largest buyers of US LNG. Its US business spans
upstream production, LNG, trading and supply, refined products and
retail, with around 12,000 Shell-branded service stations serving
more than seven million customers daily.


Shell has operated in the US for more than 100 years and had
more than 11,000 employees as of January 23, 2026, according to the
company.