Shell this morning announced that as part of the company's strategy to become a simpler, more profitable and resilient company after its merger with BG group its interests in New Zealand are under review.
"Choices have to be made to streamline the global portfolio given the current environment," the company said in a statement.
Shell is focusing on large growth opportunities, with deep water and integrated gas as growth priorities.
"New Zealand is a great place to do business and these assets are profitable, well maintained and are an important part of New Zealand's energy mix," Shell NZ chairman Rob Jager said.
"The Shell business in New Zealand is a great, but a small part of the global Shell business and hence the decision to undertake a strategic review at this time."
"We are very conscious of the uncertainty this creates for local staff and New Zealand staff abroad, and we will commit to moving quickly through this review process and to keeping people informed on the outcome of the review."
Shell is planning to sell more than $60 billion in assets out to 2018 while cutting jobs and costs.
It wrote down $10 billion of assets in Alaska and Canada last quarter and aims to cut costs this year by even more this fiscal year.
Shell is NZ's largest gas field, producing 70% of the nation's fuel.
It owns the giant Maui field and stakes in, Kapuni and Pohokura in the Taranaki Basin, a remote block in the New Caledonia Basin off the north-west and a deepwater exploration licence in the Great South Basin where a costly wildcat well has been constantly pushed back.
The company also owns a majority stake in the Maui pipeline, the largest high-pressure pipeline in New Zealand responsible for 78% of gas transported, which was put up for sale in October.
It is expected to fetch some $330 million.
The company employs about 420 people in New Zealand, including staff of Shell Todd Oil Services, a joint venture company with the privately owned Todd Corp.
Until recently, Shell had petrol stations all over the country, but sold them to Infratil and the Superannuation Fund.
