DELKY - Shell seeking sale of North Sea Cambo oil prospect - Reuters

Shell ( NYSE: SHEL ) has launched a sale process for its 30% stake in the Cambo oil prospect in the U.K. North Sea, potentially paving the way for the field's development, Reuters reported on Thursday.

The company hired investment bank Jefferies to run the sale process, according to the report.

Shell ( SHEL ) CEO Ben van Beurden said recently that he could not see the company taking part in Cambo's development because its "economics are simply not supportive enough."

Cambo, which is operated and 70%-owned by Ithaca Energy, is the second-largest undeveloped resource in the aging North Sea basin.

The field has become a lightning rod for climate activists seeking to halt development of new oil and gas resources.

Shell ( SHEL ) is "quietly building a green energy empire," Jordan Sauer writes in a bullish analysis posted on Seeking Alpha .

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