Shell Egypt to sell assets in Western Sahara


by   |  VIEW 558
Shell Egypt to sell assets in Western Sahara

On Sunday, the 20th of October 2019, Shell Egypt, a subsidy of Royal Dutch Shell, a British-Dutch energy mogul headquartered in the Netherlands and incorporated in UK, had issued a statement saying that the company had been looking to a sell-off of some of its assets in the Western Sahara in a bid to centre its focus more on to an expansion of offshore gas project.

Meanwhile, adding that the Shell or Royal Dutch Shell, would continue to support the Egyptian Government, Shell's General Manager for production and exploration, Wael Sawan, 44, a widely known face in the Gulf's energy industry, said on Sunday (October 24th), "We will remain committed to Egypt and continue to support the Egyptian government in its vision of transforming Egypt into an energy hub by expanding our business in the offshore concession, deep water and value added gas chain.

" Nonetheless, adding that the sale of Egypt Shell was a subject to Egyptian government's approval, Shell Egypt Chair, Khaled Kassem had been quoted saying on Sunday (October 24th) shortly after the speech of Wael Sawan, that, the company would likely to initiate talks with potential buyers in the fourth quarter of the year.