{"id":10912,"date":"2021-09-27T10:38:28","date_gmt":"2021-09-27T10:38:28","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=10912"},"modified":"2021-09-27T10:38:28","modified_gmt":"2021-09-27T10:38:28","slug":"egypt-shell-completes-sale-of-western-desert-assets-to-cheiron-petroleum-corporation-and-cairn-energy","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-shell-completes-sale-of-western-desert-assets-to-cheiron-petroleum-corporation-and-cairn-energy\/","title":{"rendered":"EGYPT: Shell completes sale of Western Desert assets to Cheiron Petroleum Corporation and Cairn Energy"},"content":{"rendered":"<div class=\"aem-component parbase section\">\n<section class=\"component component--fat page-header cq-dd-image page-header--red page-header--palette-0 \" data-ast-component=\"pageheader\" data-ast-separator=\"false\" data-ast-colour=\"palette-0\">\n<div class=\"component__base page-header__base\">\n<div class=\"component__body page-header__body\">\n<div class=\"page-header__text\">\n<p>Shell Egypt N.V. and Shell Austria GmbH, subsidiaries of Royal Dutch Shell, have completed the sale of their upstream assets in Egypt\u2019s Western Desert to a consortium made up of subsidiaries of Cheiron Petroleum Corporation 50% and Cairn Energy PLC 50% for a base consideration of US$ 646 million and additional payments of up to US$ 280 million between 2021 and 2024, contingent on the oil price and the results of further exploration.<\/p>\n<p>The acquisition value, which is subject to completion adjustments, is US$323 million net each JV partner, with additional contingent consideration of up to a maximum of US$140 million over four years net to Cairn if certain requirements are met.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"aem-component parbase section\">\n<section class=\"component grid grid--2-1\" data-ast-component=\"Grid-container\" data-ast-separator=\"false\">\n<div class=\"component__layout grid__layout\">\n<div class=\"grid__cell\">\n<div class=\"parsys\">\n<div class=\"textimage basecomponent parbase section\">\n<div class=\"component text-image   text-image--palette-0 cq-dd-image\" data-ast-component=\"text-image\" data-ast-separator=\"false\">\n<div class=\"component__base text-image__base\">\n<div class=\"component__body text-image__body\">\n<div class=\"text-image__content\">\n<div class=\"text-image__text\">\n<p>The sale was\u00a0announced\u00a0on 9 March 2021 and the transaction\u2019s effective date is 1 January 2020. Completion follows receipt of all necessary regulatory approvals.<\/p>\n<p>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).<\/p>\n<p>Simon Thomson, Chief Executive of Cairn said:<\/p>\n<p>&#8220;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.\u00a0 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.&#8221;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shell Egypt N.V. and Shell Austria GmbH, subsidiaries of Royal Dutch Shell, have completed the sale of their upstream assets in Egypt\u2019s Western Desert to a consortium made up of &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/egypt-shell-completes-sale-of-western-desert-assets-to-cheiron-petroleum-corporation-and-cairn-energy\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":10913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7446,11],"tags":[379,9634,709,1428,2195,2297,7610],"class_list":["post-10912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-cairn-energy","tag-cheiron-petroleum","tag-egypt","tag-lng","tag-royal-dutch-shell","tag-shell","tag-western-desert","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/09\/EGYPT-CAIRN-CHEIRON.png?fit=1171%2C1047&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2Q0","jetpack-related-posts":[{"id":15788,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-capricorn-announces-ministerial-signing-of-merged-concession-agreement\/","url_meta":{"origin":10912,"position":0},"title":"EGYPT: Capricorn Announces Ministerial Signing of Merged Concession Agreement","author":"Samuel Kamau Mbote","date":"May 20, 2026","format":false,"excerpt":"Capricorn announces that the Minister of Petroleum and Mineral Resources has signed the consolidated and amended concession agreement covering eight of the Company's existing Egyptian Western Desert concession agreements in which it has a 50% participating interest held jointly with Cheiron Oil and Gas Limited (Cheiron). With the Minister\u2019s signature,\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/05\/capricorn-updated-map-15x.webp?fit=1200%2C786&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":8389,"url":"https:\/\/www.oilnewskenya.com\/index.php\/first-oil-achieved-from-the-gnn-discovery-in-the-southern-gulf-of-suez-egypt\/","url_meta":{"origin":10912,"position":1},"title":"First Oil Achieved from the GNN Discovery in the Southern Gulf of Suez, Egypt","author":"","date":"June 22, 2020","format":false,"excerpt":"Cheiron has announced that the GNN-4 well, which was drilled to appraise the recent GNN oil discovery, has been completed and successfully tested at initial rates of over 2,000 bopd. \u00a0The well was drilled as a high angle wellbore from the existing Geisum D platform and has been placed on\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Cheiron-Egypt.jpg?fit=750%2C1093&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Cheiron-Egypt.jpg?fit=750%2C1093&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Cheiron-Egypt.jpg?fit=750%2C1093&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Cheiron-Egypt.jpg?fit=750%2C1093&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15121,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-egpc-awards-seven-new-exploration-and-production-blocks\/","url_meta":{"origin":10912,"position":2},"title":"EGYPT: EGPC Awards Seven New Exploration and Production Blocks","author":"","date":"June 24, 2025","format":false,"excerpt":"As part of the Ministry of Petroleum and Mineral Resources - Egypt ' plan and strategy to attract new investments in exploration and production, and to support current efforts to increase production, the evaluation of submitted offers for seven new exploration and production blocks affiliated to the Egyptian General Petroleum\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/Egypt.jpeg?fit=1200%2C847&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/Egypt.jpeg?fit=1200%2C847&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/Egypt.jpeg?fit=1200%2C847&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/Egypt.jpeg?fit=1200%2C847&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/Egypt.jpeg?fit=1200%2C847&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15007,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-egpc-approves-consolidation-of-capricorns-8-existing-concession-agreements\/","url_meta":{"origin":10912,"position":3},"title":"EGYPT: EGPC Approves Consolidation of Capricorn&#8217;s 8 Existing Concession Agreements","author":"","date":"May 8, 2025","format":false,"excerpt":"Capricorn has announced that it has been informed by the Egyptian General Petroleum Corporation (EGPC) that it has approved the consolidation of eight of the Company\u2019s existing Egyptian concession agreements, in which it has a 50% participating interest held jointly with Cheiron Oil and Gas Limited, into a new, single\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/capricon-map_2024-10-08.jpg?fit=782%2C512&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/capricon-map_2024-10-08.jpg?fit=782%2C512&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/capricon-map_2024-10-08.jpg?fit=782%2C512&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/capricon-map_2024-10-08.jpg?fit=782%2C512&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10319,"url":"https:\/\/www.oilnewskenya.com\/index.php\/middle-east-and-africas-oil-gas-industry-saw-a-drop-in-deal-activity-in-q1-2021\/","url_meta":{"origin":10912,"position":4},"title":"Middle East and Africa\u2019s Oil &#038; Gas Industry Saw a Drop  in Deal Activity in Q1 2021","author":"","date":"May 12, 2021","format":false,"excerpt":"Led by $2.59bn asset transaction with BP Exploration (Epsilon), Middle East and Africa\u2019s oil & gas industry saw a drop of 32.92% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData\u2019s deals database. A total of 27 deals worth $4.81bn were announced for\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/04\/Oil-Pump-Jack.jpg?fit=1024%2C630&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/04\/Oil-Pump-Jack.jpg?fit=1024%2C630&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/04\/Oil-Pump-Jack.jpg?fit=1024%2C630&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/04\/Oil-Pump-Jack.jpg?fit=1024%2C630&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15130,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egas-awards-6-new-exploration-poduction-licenses\/","url_meta":{"origin":10912,"position":5},"title":"EGYPT: EGAS Awards 6 New Exploration &amp; Production Licenses","author":"","date":"June 26, 2025","format":false,"excerpt":"As part of the Ministry of Petroleum and Mineral Resources - Egypt \u2019 plan and strategy to attract new exploration investments, and to support current efforts to increase production, the Egyptian Natural Gas Holding Company (EGAS) , has awarded 6 new blocks to a number of international companies. This contributes\u2026","rel":"","context":"In \"BG Group\"","block_context":{"text":"BG Group","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/bg-group\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/Welligence-Energy.jpeg?fit=800%2C565&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/Welligence-Energy.jpeg?fit=800%2C565&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/Welligence-Energy.jpeg?fit=800%2C565&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/06\/Welligence-Energy.jpeg?fit=800%2C565&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=10912"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10912\/revisions"}],"predecessor-version":[{"id":10914,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10912\/revisions\/10914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/10913"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=10912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=10912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=10912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}