Middle East Economic Survey

VOL. XLVII

No 24

14-June-2004

EGYPT

Shell To Sell Rosetta Stake To KUFPEC

Shell announced on 4 June it had agreed to sell its 40% stake in the Rosetta Concession offshore Egypts Nile Delta to KUFPEC. The agreement includes rights to the producing field and the onshore gas processing plant. The transaction is expected to be completed later this year, subject to all necessary Egyptian and Kuwaiti approvals, as well as the pre-emption and approval rights of partners in the...