A JV between Centrica and Qatar Petroleum International (QPI) has agreed to acquire select gas assets from Shell, located in the Foothills region of Alberta, for C$50 million (US$46 million). As part of the transaction, Shell will also receive JV's interest in the Burnt Timber gas processing plant and the Waterton undeveloped lands in South West Alberta.
The 2P reserves of the assets to be acquired stand at 90 Bcfe. Production in the region for the JV is expected to rise by approximately 24 MMcfe/d.
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