Minister Eric Wiebes of Economic Affairs and Climate reached an agreement with Shell and ExxonMobil about gas production in Groningen. The government and NAM will invest at least 1 billion euros into quality of life in the gas mining area.
Dutch gas firm NAM will for the time being not pay profits to its two shareholders - Shell and ExxonMobil, Shell announced in a press release. NAM has 18 billion euros available to compensate for damaged caused by gas extraction related earthquakes in Groningen for the next five years, the Dutch gas firm also announced in a press release.
Gas extraction in Groningen failed to adequately consider the safety of the province’s residents up until 2013, a report released on Wednesday by the Dutch Safety Board (OVV) says.