Shell’s in-house legal team recently took the lead on the sale of $3.8bn worth of its own North Sea oil and gas assets, with help from panel firm Clifford Chance (CC), as part of a debt reduction push following its takeover of BG Group.
The deal sees British investment firm Chrysaor Holdings pay an initial sum of $3bn plus an additional payment of up to $600m, subject to commodity prices, and $180m for future discoveries. A Shell spokesperson said: ‘This approach to legal delivery, with a Shell team in the lead and backed up by limited external legal support, is typical for us. It allows our in-house business lawyers to work on the most complex, high-value projects, drawing on the expertise of a wide network of internal legal experts, and delivering value to the business at competitive cost and appropriate risk profile.’
Subscriber Access
You must be logged in to view full premium content.