$926,000,000
Egypt Southeast Horus
Shell is divesting its portfolio of assets in Western Desert to Cheiron Petroleum Corporation and Cairn Energy Plc for a base consideration of $646m with additional payments of up to $280m, between 2021 and 2024, contingent on oil price and exploration success. The transaction is subject to government and regulatory approvals, expected in H2 2021. The divestment includes assets of 50% non-operated interest Badr El-Din Petroleum Company (BAPETCO), producing assets operated by BAPETCO and Shell Egypt operated onshore exploration assets with 100% WI.
Details
Asset Name
:
Southeast Horus
Ref
:
AF-EGY-SEH
Continent
: Africa
Country
: Egypt
Location
: Onshore
Project Phase
: Production
Latitude
:
30.2002
Longitude
:
29.1517
Operator
:
Shell Egypt
Farmout company
:
Shell Egypt
Deal Status
:
Under Offer
FarmoutAngel Valuation
: >$100,000,000
FarmoutAngel confidence
: High
Consideration Sought
:
$926,000,000