Infratil and the New Zealand Super Fund have completed the purchase of Shell NZ and will now invest in training and development.

The New Zealand Herald reports that the two organisations will launch an 'onshoring' campaign to boost local skills and employment after taking control of Shell's network of petrol stations across the north and south islands of New Zealand.

Infratil chief executive Marko Bogoievski commented: "This is a New Zealand company taking hold and control of an asset that has been controlled offshore for some time."

He added that Shell NZ is the "best business in a structurally attractive industry".

The takeover deal, completed for NZ$696.5 million, covers 229 petrol stations and 95 truck stops nationwide, as well as a stake in the New Zealand Refining Company, which operates at the Marsden Point oil refinery.

Shell NZ directly employs around 300 people, while more than 4,000 are involved in delivering its services to customers.

Oil and Gas Directory: Training and Development