Energy

Shell completes sale of Egypt onshore assets

1 minute read

The logo of Royal Dutch Shell is pictured during a launch event for a hydrogen electrolysis plant at Shell's Rhineland refinery in Wesseling near Cologne, Germany, July 2, 2021. REUTERS/Thilo Schmuelgen

CAIRO, Sept 24 (Reuters) - Royal Dutch Shell (RDSa.L), 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 (CNE.L), 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

Our Standards: The Thomson Reuters Trust Principles.

More from Reuters