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Share: Shell Petroleum, a subsidiary of Royal Dutch Shell, has agreed to sell its stake in Philippines' Malampaya gas field to Philippines-based Udenna for at least $380 million Existing Subscriber? If you are an existing subscriber please sign in to read this article in full.Sign In Sign up for a free trial Register for free access to IJGlobal and realise the value of our asset and transaction databases, our market leading news, league tables and much more.Sign up for a free trial

Shell Petroleum N.V. has signed a deal with Malampaya Energy XP Pte Ltd, a subsidiary of Udenna Corporation, for the sale of its 100 percent shareholding in Shell Philippines Exploration B.V. (SPEX). Shell Petroleum N.V. has signed a deal with Malampaya Energy XP Pte Ltd, a subsidiary of Udenna Corporation, for the sale of its 100 percent shareholding in Shell Philippines Exploration B.V. (SPEX). The base consideration for the sale is $380 million, with additional payments of up to $80 million between 2022 to 2024 contingent on asset performance and commodity prices, Shell revealed. Subject ...

Published May 20, 2021, 5:33 PM Davao businessman Dennis Uy’s Udenna has been chosen as the buyer of the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in Malampaya, giving him ultimate majority control in the country’s commercial gas field. In an announcement made by SPEX’s parent firm Royal Dutch Shell plc, it stated that its corporate vehicle Shell Petroleum N.V. signed an agreement with Uy’s Malampaya Energy XP Pte. Ltd., a subsidiary of Udenna Corporation for the purchase of the shares of Shell in the project. The Malampaya gas field uses an innovative and sustaina...

Davao's Dennis Uy acquires Shell's Malampaya stake enablePagination: false endIndex: Metro Manila (CNN Philippines, May 20) — Davao-based business tycoon Dennis Uy further cemented his status in the Philippine market, with a majority stake in the Malampaya gas facility now under his belt. Shell Petroleum N.V., in a statement on Thursday, said it has signed a sale-purchase agreement with Uy's Malampaya Energy for the sale of its 100% shareholding in Shell Philippines Exploration B.V. or SPEX. SPEX has a 45% operating interest in the Malampaya gas field. The deal means the Davao businessman...

Shell inks $380 million deal for its Malampaya, Philippines gas field 5/20/2021 Shell Petroleum N.V. has signed an agreement with Malampaya Energy XP Pte Ltd (a subsidiary of Udenna Corporation), for the sale of its 100% shareholding in Shell Philippines Exploration B.V. (SPEX). SPEX holds a 45% operating interest in Service Contract 38 (SC38), which includes the producing Malampaya gas field. The base consideration for the sale is US$380 million, with additional payments of up to US$80 million between 2022 to 2024 contingent on asset performance and commodity ...