Shell Divests Na Kika and Coulomb Assets in $1.7 Billion Gulf Deal

The transaction, set to close by the end of 2026 with an effective date of July 1, 2025, involves Shell’s 50% non-operated stake in Na Kika and its full ownership of the Coulomb field. The deal remains subject to customary adjustments and regulatory approvals. Additionally, BP, which operates Na Kika and holds the remaining 50% interest, maintains a preferential right to purchase the assets within 30 days of notification.

Shell’s Upstream President Peter Costello stated the move aligns with efforts to focus on high-value, resilient basins. While the assets produced 37,000 barrels of oil equivalent per day for Shell in 2025, internal modeling suggests they will not be significant contributors to production by 2030. As part of the transition, the buyers will assume responsibility for decommissioning obligations, though Shell Trading US Company will retain offtake rights for the production through separate agreements.