Carlyle, Cairn Energy-backed group among bidders for Shell’s Egypt assets-sources - REUTERS

JULY 15, 2020 / 4:25 PM

Hadeel Al Sayegh, Ron Bousso

DUBAI/LONDON, July 15 (Reuters) - Buyout firm Carlyle and a consortium backed by Cairn Energy are among the bidders for Royal Dutch Shell’s onshore Egyptian oil and gas assets, two sources with knowledge of the matter told Reuters.

Bids for the assets are now expected to be sharply lower than initial estimates of up to $1 billion due to a weaker outlook for global oil and gas prices, said the sources, declining to be named as the matter is not public.

Shell launched a process at the end of November to sell its onshore upstream assets in the Western Desert as it focuses on expanding its Egyptian offshore gas exploration.

Shell appoints Citi for $1 bln sale of Egypt assets -sources - REUTERS

NOVEMBER 15, 2019 / 2:21 PM
Ron Bousso

• Western Desert sale process to launch end of Nov.
• Shell’s share of production reached 100,000 boed last year

LONDON, Nov 15 (Reuters) - Royal Dutch Shell has appointed investment bank Citi to run the sale of its onshore Egyptian oil and gas assets which could fetch around $1 billion, sources close to the process said.

The sale process is expected to be officially launched at the end of November, the sources said.

Shell said last month it plans to sell its onshore upstream assets in the Western Desert to focus on expanding its Egyptian offshore gas exploration.

Egypt’s Offshore Red Sea Oil & Gas exploration Bid Round closes today - ENERGY EGYPT

SEPTEMBER 15, 2019 AT 1:57 PM

The Red Sea oil and gas exploration tender ends today, with bids from major oil producers expected to be announced later. Shell, ExxonMobil, Statoil, Dragon Oil, Russian Rosneft and Total have all reportedly bidding for 10 oil and gas exploration blocks off the Red Sea coast under a new production sharing contract, which were tendered back in March by the South Valley Egyptian Petroleum Holding Company (Ganope), sources told Egypt Today on Thursday.

Ministry of Petroleum and Mineral Resources, represented by South Valley Egyptian Petroleum Holding Company (Ganope), will close receiving tenders for the 2019 international bidding in the Red Sea on Sunday, Sept. 15 before noon.

Sources at the petroleum sector told Egypt Today that companies applying to the tender included Shell, ExxonMobil, Statoil, Dragon Oil, Russian Rosneft and Total France.

BP to Redirect Focus From Oil Assets in Egypt to Gas Reserves - YAHOO FINANCE / ZACKS EQUITY RESEARCH

June 5, 2019

BP plc BP recently announced its decision to divest Gulf of Suez oil concessions in Egypt to an upstream energy firm Dragon Oil. The value of the transaction has not been disclosed yet.

With the divestment, the British energy giant is planning to focus on gas reserves located off the coast of Egypt. The company has already produced first gas from the West Nile Delta development’s second stage. The project entails the production of natural gas from the Giza and Fayoum fields and the integrated energy firm expects peak production of 700 million cubic feet of gas per day.

BP commenced the first stage of the West Nile Delta project in 2017 and is expecting to start gas production from the final stage by the second half of 2019. Notably, in the first stage, BP developed the Taurus and Libra fields, while the final stage involves the development of the Raven field.

Overall, the West Nile Delta is a major upstream project and the company is expecting the full development — comprising the first, second and final stages — to produce roughly 20% of the current natural gas production volumes in Egypt. BP added that the national gas grid will utilize the entire gas being produced from the West Nile Delta.

Lebanon should relax bidding conditions to benefit from any deepwater gas finds - THE NATIONAL (UAE)

February 12, 2017 01:51 PM
Robin Mills

Snow fell across Lebanon over the New Year, and power cuts plunged towns in the Bekaa valley into darkness. Syrian refugees in Akkar huddled in their tents. Meanwhile, as Egypt and Israel forge ahead with developing their offshore gasfields, the inviting Mediterranean waters seem to hold the elusive solution to the country’s energy and economic woes.

Lebanon thinks the time has come for its own deepwater gas wealth. The election in October of a new president, Michel Aoun, after an interregnum of more than two years, has permitted the passage of two crucial decrees enabling exploration bids. Eni’s giant Zohr find off Egypt, less than 300 kilometres from Lebanese waters, has raised optimism about the area.

Beirut has divided its offshore into 10 blocks. Five will be offered in the initial round, with a deadline in September – numbers 8, 9 and 10, along the disputed maritime border with Israel, block 1 on the Syrian frontier in the north, and block 4 in the middle.