Shell PLC subsidiary BG International Ltd. signed a farm out agreement (FOA) with ExxonMobil Egypt (Upstream) Ltd. to acquire 100% stake in North East El-Amriya offshore area (Block 3) in the Mediterranean Sea. Upon deal completion, which is subject to government and regulatory approvals, BG International would become operator.
Shell Egypt vice-president and country chair Khaled Kacem, in a May 18 release, said the deal is in line with plans to build a its gas position in Egypt and that the proximity of the block to the company’s existing assets and exploration blocks will help accelerate its offshore ambitions. Drilling of the first well could potentially begin in first-half 2023, he said.
ExxonMobil is operator of the Nile Delta block with 100% (OGJ Online, Dec. 30, 2019).
In 2020, Shell subsidiary BG Delta Ltd. acquired North Sidi Gaber Concession (Blocks 4) and North Al Fanar Concession (Block 6) in the West Nile Delta, as operator, in partnership with PICL (Egypt) Corp. Ltd. Seismic was acquired and portfolio maturation is under way, the release noted.