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Shell buys into 190 mln boe Cluff gas projects in UK North Sea

Reuters - UK Focus

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LONDON, Feb 8 (Reuters) -

* Royal Dutch Shell (LSE: 0LN9.L - news) bought stakes and options in gas licenses in the southern British North Sea estimated to contain a total of 190 million barrels of oil equivalent from Cluff Natural Resources, Cluff said on Friday.

* Cluff's P2437 license, of which Shell (LSE: RDSB.L - news) now has an option to buy 50 percent until April 30, contains the Selene prospect next to Shell operated infrastructure linked to the Barque gas field which exports gas into the Bacton Gas Terminal.

* Shell agreed to buy 70 percent of the P2252 license and will become its operator.

* The deal was advised by Gneiss Energy and Allenby Capital Limited.

* For more detail please click here (Reporting By Shadia Nasralla; Editing by Kirsten Donovan)