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Image courtesy of Royal Dutch Shell/Flickr.

Royal Dutch Shell said Wednesday that it has placed its interests in New Zealand under review.

The company said the move is in line with its strategy to streamline its global portfolio “given the current environment” and focus on large growth opportunities, with deep water and integrated gas as growth priorities.
“The Shell business in New Zealand is a great, but a small part of the global Shell business and hence the decision to undertake a strategic review at this time,” Country Chairman of Shell New Zealand Rob Jager said.
Shell said it is “very conscious” of the uncertainty the review will create for local staff and New Zealand staff abroad and added that it is committed to moving through the process quickly.

“New Zealand is a great place to do business and these assets are profitable, well maintained and are an important part of New Zealand’s energy mix,” Jager added.

Shell has about 420 employees in New Zealand, including staff at Shell Todd Oil Services, a joint venture with privately owned Todd Corporation, CNCB said.

According to Shell, its ventures account for about half of New Zealand’s total natural gas production and a significant proportion of the country’s condensate production.  

The company’s New Zealand exploration and production centers on three major assets in the Taranaki region and the company is the majority equity holder in the Māui gas and condensate field.

Shell told the Sidney Morning Herald that its plans to sell the Māui gas pipeline will not be affected by the review.