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Shell selling 16 assets worth more than $500 mln

Reuters - UK Focus

(Corrects to remove 'upstream' from headline)

LONDON, Oct (Shenzhen: 000069.SZ - news) 19 (Reuters) - Royal Dutch Shell (Xetra: A0ET6Q - news) is currently offering 16 assets each worth more than $500 million for sale as part of its vast $30 billion three-year asset sales programme, the oil and gas company's head of upstream Andy Brown said on Wednesday.

The Anglo-Dutch company launched the programme to reduce its debt following the acquisition of BG Group (EUREX: 1007667.EX - news) earlier this year. Uncertainty over the future oil price has led to a sharp slowdown in deal making in the sector in recent years.

"There are 16 assets currently in the market that are above $500 million in value," Brown told the Oil and Money conference in London. (Reporting by Ron Bousso; Editing by Mark Potter)