Shell sell Egypt onshore upstream interests Cheiron, Cairn Energy
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...
Source: worldofchemicals.com