$926,000,000

Egypt North Matruh

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 : North Matruh
Ref : AF-EGY-NM
Continent : Africa
Country : Egypt
Location : Onshore
Project Phase : Production
Latitude : 31.2669
Longitude : 27.2350
Operator : Shell Egypt
Farmout company : Shell Egypt
Deal Status : Under Offer
FarmoutAngel Valuation : >$100,000,000
FarmoutAngel confidence : High
Consideration Sought : $926,000,000

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