The sale was announced on 9 March 2021 and the transaction’s effective date is 1 January 2020. Completion follows receipt of all necessary regulatory approvals.
Shell is refocusing its business in Egypt on its existing infrastructure position in the West Delta Deep Marine (WDDM), the Harmattan Deep Project and Exploration acreage in the new seven blocks in the Nile Delta, West Mediterranean and the Red Sea; in midstream through its Egyptian LNG (ELNG) joint venture; and in downstream through Shell Lubricants Egypt (SLE).
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Oilfield Technology’s third issue of 2021 starts with a report from Wood Mackenzie focusing on the upstream industry’s fortunes in Asia-Pacific. The rest of the issue is dedicated to features covering offshore engineering, coiled tubing, frac technology, completion technologies, water management, well placement and much more.
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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/24092021/shell-completes-sale-of-western-desert-assets-in-egypt-to-cheiron-petroleum-corp-and-cairn-energy/