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Shell completes sale of Egypt onshore assets

09/24/2021 | 06:05am EDT
Shell launches REFHYNE hydrogen electrolysis plant in Wesseling

CAIRO (Reuters) - Royal Dutch Shell, through subsidiaries Shell Egypt and Shell Austria, has completed the sale of upstream assets in Egypt's Western Desert to Cheiron Petroleum Corporation and Cairn Energy, it said on Friday.

The $926 million deal announced in March includes Shell Egypt's stake in 13 onshore concessions and the Badr El-Din Petroleum Company (BAPETCO).

The sale has received all necessary regulatory approvals, the company said in a statement.

(Reporting by Nafisa Eltahir; editing by Jason Neely)

ę Reuters 2021
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