Shell NZ assets sold to Austrian oil and gas explorerANDY JACKSON/STUFF Shell NZ country manager Rob JagerShell New Zealand has been sold to Vienna-based oil and gas company OMV, parent company Royal Dutch Shell announced today, Friday. Royal Dutch Shell plc (Shell) said in a statement it had reached an agreement to sell its shares in Shell's eight entities in New Zealand to OMV for $794m ($US578m). READ MORE:* Shell New Zealand swaps assets with Todd as it moves towards sale* Shell sells New Zealand's oldest gas field in Taranaki to long-term partner* Shell considers selling its NZ assets after more than a centuryShell GSB Ltd (SGSBL) is also being sold in a separate transaction. As part of the deal, all Shell Taranaki Limited and Shell New Zealand staff will become part of OMV New Zealand, upon completion of the deal. Shell New Zealand country chairman Rob Jager said business would continue as normal until the deal was complete.

Source: Stuff March 15, 2018 22:18 UTC