EGYPT

Shell and Apache will drill Egypt’s first horizontal wells into shale rock under a deal finalized this week, as Cairo seeks to open up Egypt’s sizeable unconventional gas resources in upcoming bidding.

The two firms will exploit shale reserves on the Western Desert’s Northeast Abu al-Gharadig block, Egypt’s Ministry of Petroleum said on 17 December. The firms will spend $30-40mn to drill three wells into the Apollonia formation.

The project will be the first...