9:02 AM, 9th March 2021 Royal Dutch Shell s petrol station. (Representative Image/File Photo)
HAGUE, NETHERLANDS: Shell Egypt and one of its affiliates have signed an agreement with a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC to acquire Shell’s upstream assets in Egypt’s Western Desert for a base consideration of $646 million and additional payments of up to $280 million between 2021 and 2024, contingent on the oil price and the results of further exploration.
The transaction is expected to complete in the second half of 2021.
The package of assets consists of Shell Egypt’s interest in 13 onshore concessions and the company’s share in Badr El-Din Petroleum Company (BAPETCO).
Eni Sells Pakistan Assets to Employee Start-Up
Mar 9, 2021 10:50:am
Summary
by: William Powell
Eni has agreed to sell its upstream assets in Pakistan to Prime International Oil & Gas for an .
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