Shell to acquire RPJ

Exploration and Production Ukraine (SEPU) has signed a non-binding memorandum of understanding to acquire a 51 per cent interest in

Jersey (RPJ).

RPJ is a wholly owned subsidiary of Regal Petroleum and indirectly holds licences for the Mekhediviska-Golotvschinska and Svyrydivske gas fields in Ukraine.

Under the terms of the memorandum, Shell would become the operator of the gas fields found in the Dniepr Donetsk sedimentary basin, where most of Ukraine’s gas and condensate production is located.

‘The memorandum is another important step in Shell’s development in Ukraine,’ said Patrick van Daele, general manager of SEPU. ‘The growth potential from the Mekhediviska-Golotvschinska and Svyrydivske fields is a clear fit with Shell's strategy.’

The negotiations, which are exclusive to Shell and Regal, are subject to due diligence and final transactional documentation.