Shell Egypt has announced that it entered into a share purchase agreement (SPA) for its onshore assets in the Western Desert of Egypt, with a consortium made up of subsidiaries of Cherion Petroleum Corporation and Carin Energy PLC.

The Minster of Petroleum and Mineral Resources, Tarek El Molla, signed an agreement with Shell Egypt for oil and natural gas exploration in concession area (4) in the Red Sea deep water.

Shell Egypt has announced it signed production sharing contracts (PSCs) in the offshore and deep-water concession of the Red Sea at Block 3 with distance of 3,097 Km² and in the offshore North Kanayes of Herodotus Basin in the West Mediterranean concession by 30% share. The contracts are shared with Total company, the main operator of the project, by 35%, KUFPEC limited by 25% and Tharwa Petroleum company by 10% at distance of 4,445 Km².

Pharos Energy company announced that its board decided to withdraw from the consortium that is evaluating the opportunity of acquiring Shell’s Western Desert Assets.

The first concession is located in Block 4 which was awarded to Shell in partnership with Mubadala Petroleum (30%), while the second concession is located in Block 3 with Shell being the sole license holder.

The Energy and Environment Committee of Egypt’s House of Representatives, Chaired by Talaat El Sewedy, approved 11 projects, delegating the Minister of Petroleum and Mineral Resources, Tarek El Molla, to explore for oil in different regions.

Shell Egypt is putting its current onshore upstream assets in the Western Desert up for sale to be able to focus on expanding its Egyptian offshore exploration and integrated gas business.

Shell Egypt participates in the 10th Mediterranean Offshore Conference and Exhibition (MOC 2019) under the patronage of Tarek El Molla, Minister of Petroleum and Mineral Resources, at the Bibliotheca Alexandria Conference Center.

Shell Egypt has announced the selection of two Egyptian entrepreneurs, Baramoda and Tink, out of nine nominated companies graduated from Shell’s program ‘Intilaqaah’. The two entrepreneurs were nominated among the top 21 companies worldwide in the LiveWire Competition for the top ten innovators.

Shell announced that the “Discoverer India” Drillship will start drilling in the first 6,000 meters deep marine well, West Delta Deep Marine (WDDM) concession by the end of this August.