Shell plans to sell assets in Egypts Western Desert

Cairo –  Shell Egypt revealed plans to sell its onshore upstream assets in the Egyptian Western Desert, according to a statement on Sunday.

The company said it aims to focus on growing its offshore gas exploration and integrated gas business in the North African nation.

Shell affirmed its commitment to support “the government’s energy hub vision by growing Shell positions across the offshore and LNG value chain,” Shell upstream director, Wael Sawan, said.

Negotiations with potential buyers are expected to begin in the fourth quarter of 2019, Shell Egypt’s chairman, Khaled Kacem noted.

Kacem stressed that “any sale is contingent on finding an appropriate buyer, commercial negotiations, and required approvals.”

“Shell companies are progressing with new offshore activities, including [its] West Delta Deep Marine (WDDM) Phase 9B project, which involves eight new development wells, and exploration in WDDM, for which a 2nd offshore rig has been recently mobilised, that will be followed up with exploration in Rosetta as well as the recently awarded Blocks 4 and 6,” Kacem remarked.