Shell and KUFPEC announced the deal in January, and it was due to be completed in the first quarter of 2017.
The sale was part of efforts by the Anglo-Dutch company to reduce debt after buying smaller rival BG Group for US$70 billion.
The deal had called for Shell to divest its shares in two subsidiaries – Shell Integrated Gas Thailand Pte Ltd (SIGT) and Thai Energy Co Ltd (TEC) – to KUFPEC’s unit in Thailand.
SIGT and TEC together hold a 22.222% equity stake in the Bongkot natural gas field and adjoining acreages offshore Thailand consisting of blocks 15, 16, 17 and G12/48.
PTT Exploration and Production PCL operates the offshore Bongkot field with a 44.445% equity. France’s Total has a 33.333% stake.
Besides continuing to support operations and development at Bongkot, SIGT also intends to participate in the forthcoming licensing round for the extension of the Bongkot concession.
