Mar 9, 2021 8:50:am
Summary The Anglo-Dutch major says the sale will help it focus more on its offshore operations in the north African country.
by: Joe Murphy
Anglo-Dutch Shell has reached a deal to sell its interests in onshore fields in Egypt s Western Desert for up to $926mn to UK producer Cairn Energy and its Egyptian partner Cheiron Petroleum, the companies announced on March 9. Cairn, meanwhile, has struck a deal to sell its interests in the Catcher and Kraken fields in the UK North Sea for $460mn plus contingent payments to Aberdeen-based Waldorf Production.
Shell s Western Desert business includes interests in 13 onshore concessions and .
Shell to Shed Egyptian Assets for up to $926mn
Mar 9, 2021 7:40:am
Summary
by: Joe Murphy
Posted in:
Shell to Shed Egyptian Assets for up to $926mn
Anglo-Dutch Shell has announced the sale of its interests in a package of onshore exploration and production assets in Egypt s Western Desert region for $646mn, plus up to $280mn in contingent payments, to UK operator Cairn Energy and Egyptian partner Cheiron, the companies said on March 9.
Cairn, meanwhile, has struck a deal to sell its interests in the Catcher and Kraken fields in the UK North Sea for $460mn plus contingent payments to Aberdeen-based Waldorf Production.