Middle East Economic Survey


No 11



Shell Farms 30% Into Four Western Desert Concessions

Shell Egypt announced on 2 March it had signed a farm-in agreement with Tharwa Petroleum to acquire 30% of Tharwas 60,000 sq km acreage in four concessions in the Western Desert. The agreement gives Shell Egypt 30% equity in each of the Sallum, Siwa, West Ghazalat and Farafra concessions. The partnership is comprised of Tharwa 45%, Shell 30% and Petronas 25%. This acquisition fits...