Shell eyes $700 million exit from Gabon – sources

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By Freya Berry and Ron Bousso

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) is working on selling out of its onshore assets in Gabon, according to two sources familiar with the matter, as the oil giant seeks to refocus its African presence.

Bids are due in June for the fields, which one source estimated could be worth around $ 700 million (488.33 million pound). However the second person said that price indications were currently below Shell’s expectations and that no sale may occur. Shell’s Gabon holdings include the Rabi Kounga and Gamba fields.

“Shell continuously evaluates opportunities for our global portfolio in line with our business strategy,” a company spokesman said on Thursday.

(Reporting by Freya Berry and Ron Bousso; editing by Lawrence White)