North Sea-focused energy explorer Chrysaor Holdings is closing in on a £1.6billion deal to buy a number of Shell’s assets, a news report said.
Chrysaor is led by former Amerada Hess executive Phil Kirk and chaired by Francis Gugen, founder of struggling shale gas developer iGas.
It has the backing of US private equity firm EIG Global Energy Partners and is close to a deal, The Times reported.
The report said Chrysaor could buy most, but perhaps not all of the North Sea fields Shell is trying to offload as part of its $30billion divestment programme.
The programme was launched to help Shell balance the books following its multi-billion dollar takeover of BG Group.