Shell to Shed Egyptian Assets for up to $926mn
Anglo-Dutch Shell has announced the sale of its interests in a package of onshore exploration and production assets in Egypt's Western Desert region for $646mn, plus up to $280mn in contingent payments, to UK operator Cairn Energy and Egyptian partner Cheiron, the companies said on March 9.
Cairn, meanwhile, has struck a deal to sell its interests in the Catcher and Kraken fields in the UK North Sea for $460mn plus contingent payments to Aberdeen-based Waldorf Production.
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