Royal Dutch Shell Plc has agreed to sell its onshore oil assets in Gabon to a unit of Carlyle Group LP for $587m, Reuters reported.

For Shell, the deal is considered a further step in a $30b asset disposal program to help the company in reducing its debt after it acquired BG Group for $54b in 2016.

According to Bloomberg, Carlyle’s unit Assala Energy Holdings Ltd. will also take on $285m of debt from Shell’s Gabon unit and will pay an additional $150m depending on production performance and commodity prices.

Shell informed in a statement mid-March that the transaction will also result in Shell taking a $53m impairment charge this quarter.

Shell’s Gabon assets will be incorporated into Carlyle-backed Assala Energy. The assets operated by the Dutch company produce approximately 60,000b/d, of which 40,000b/d go to the firm.

The deal is expected to be finalized mid-2017 and is subject to conditions including various approvals.