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EGYPT: Shell completes sale of Western Desert assets to Cheiron Petroleum Corporation and Cairn Energy

The sale was announced on 9 March 2021 and the transaction’s effective date is 1 January 2020. Completion follows receipt of all necessary regulatory approvals.

With this transaction Shell is refocusing its business in Egypt on our existing infrastructure position in the West Delta Deep Marine (WDDM), the Harmattan Deep Project and Exploration acreage in the new seven blocks in the Nile Delta, West Mediterranean and the Red Sea; in Midstream through our Egyptian LNG (ELNG) joint-venture; and in Downstream through Shell Lubricants Egypt (SLE).

Simon Thomson, Chief Executive of Cairn said:

“The addition of the Western Desert assets to our portfolio is an important first step in expanding and diversifying our producing asset base, alongside offering significant exploration potential.  We look forward to working alongside our partners to deliver the attractive growth opportunities the assets provide. I would like to thank the Government of Egypt and the Minister of Petroleum and Mineral Resources for their approval of the transaction.”

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