Shell enters into an agreement for its onshore upstream interests in Egypt with Cheiron Petroleum Corporation and Cairn Energy PLC

Mar 09, 2021

Shell Egypt and one of its affiliates have entered into a SPA for their upstream assets in Egypt’s Western Desert with a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC for a base consideration of US$ 646 million and additional payments of up to $280 million between 2021 and 2024, contingent on the oil price and the results of further exploration.

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