UPDATE 1-Shell CEO says may sell some North Sea assets to improve portfolio
* North Sea assets from BG deal are newer, of higher quality -CEO
* Shell chief downplays any sale of Singapore refining assets
* Brazil assets from BG seen as highly attractive -CEO (Adds details and further comment)
By Sonali Paul
PERTH, April 12 (Reuters) - Royal Dutch Shell could sell some of its older, lower grade North Sea assets to improve the quality of its portfolio, CEO Ben van Beurden said on Tuesday, part of a two-year programme to help finance its purchase of gas major BG Group.
After completing the $52 billion acquisition of BG in February, Shell said it would sell $30 billion in assets between 2016 and 2018 to help finance the deal and to maintain its dividend following a sharp drop in oil prices since mid-2014.
"The North Sea for us will be an area where we will have to take a look, as we have to do with our entire conventional upstream, now that we have a much enlarged portfolio," van Beurden told reporters at a conference.
BG assets Shell acquired in the North Sea are newer, have more running room and are of higher quality, so the company would look to sell some of its other properties there, he said.
Van Beurden also said Shell still sees the Brazil deepwater assets it acquired with BG as highly attractive. Any potential delays in developing those assets due to political and economic problems in the country had been factored into Shell's valuation of BG, he said. Continuación...