Huawei 2022 H1 financial results disclose performance according to prediction    Russia's Gazprom: Gas prices to skyrocket 60% this winter    Gold extends losses as investors await Fed minutes    Efforts to release detained Ukraine wheat shipment for Egypt underway – official    Gold prices in Egypt on August 16    Gulf markets fall, Saudi index up    In Photos: Egypt swears in 13 new ministers after major Cabinet reshuffle    Egypt's Sisi names 13 ministers in Cabinet reshuffle    Sisi calls for extraordinary parliament session to agree on major Cabinet reshuffle    Mayo Clinic researchers pinpoint genetic variations that might sway course of COVID-19    Egypt's Mersal Foundation secures UN Women loan    Egypt's Health Ministry launches Emergency scooter    Spain: prosecutor seeks 8 years sentence for Shakira over tax evasion    Egypt: Alamein Art Festival kicks off a collection of recycled installations    John Legend enjoys family trip in Egypt    Egypt: street photography will no longer require permits    Egypt's athlete Basma Emad wins bronze in weightlifting in Mediterranean Games    Noura Al-Mutair – first Gulf female boxer in World Championships    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Shell enters new partnership in Egypt's Red Sea Blocks
These FOAs are subject to government and regulatory approvals, without prejudice to pre-emption rights.
Daily News Egypt Published in Daily News Egypt on 14 - 12 - 2021

Shell Exploration and Production (93), a subsidiary of Royal Dutch Shell, signed Farm Out Agreements (FOAs) with QatarEnergy, under which QatarEnergy will acquire 17% stake in each of Shell-operated Block 3 and Block 4 in the Egyptian Red Sea.
These FOAs are subject to government and regulatory approvals, without prejudice to pre-emption rights.
This follows an earlier dilution of Blocks 3 and 4 to BHP Petroleum (Egypt) Limited, which is also subject to government and regulatory approvals.
Shell will remain the operator in both blocks.
Khaled Kacem, Shell's Vice President & Country Chair for Egypt, said, "Bringing such reliable partners into the project will enable us to leverage our joint expertise as we progress the opportunity. It is also worth highlighting that we were able to attract new market entrants thanks to the favourable investment climate in Egypt".

Clic here to read the story from its source.