Drilling & production - 22 October 2019

The contract covers the delivery and installation of subsea equipment.

Petrofac will provide FEED and conceptualisation studies to clients in Oman and Libya.

Under the agreement, Shell will reduce its stake in the discovery from 80% to 50% and continue as operator, while Total will retain the remaining 20%.

Shell Egypt is selling the onshore assets to focus on expanding its offshore gas exploration in the country.

The first cargo of oil from the field is expected to leave for customers in Asia this week, and contain 1 million bbl with a market value of approximately US$60 million.