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Shell closes $926mn Egyptian sale

Shell closes $926mn Egyptian sale
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Shell Offloads Onshore Egyptian Assets

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 . ....

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