Mubadala takes 20pc in Shell’s Algerian ventures

ABU DHABI — Mubadala Development Company (Mubadala) owned subsidiary, Liwa Energy Ltd, has purchased a 20 per cent stake in Shell’s current exploration and production ventures in Algeria.
Shell holds two production sharing contracts in the Reggane Djebel Hirane and Zerafa permits in Algeria where it is conducting an exploration and appraisal campaign in partnership with Sonatrach, the Algerian national oil and gas company.
The revised interests in the Reggane Djebel Hirane and Zerafa Production Sharing Contracts are Sonatrach 25 per cent, Shell affiliates 60 per cent and Mubadala’s Liwa Energy 15 per cent.
This agreement is another example of Mubadala’s increasing interest in Algeria, where the company has already made a number of significant investments in the energy sector, including several power stations and oil and gas projects.

(Khaleej Times)


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