Royal Dutch Shell (RDS.A) has agreed to sell its Gabon onshore production assets to a company backed by the  Carlyle Group (CG) - Get Report for up to $1 billion, according to the Financial Times

Assala Energy, established by Caryle for investment into sub-Saharan Africa, will pay the Anglo-Dutch company $587 million in cash and assume $285 million of debt.

An additional payment of up to a maximum of $150 million will be subject to commodity prices and production performance.