Cairo – Mubasher: The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, has signed two new agreements with Shell Egypt for exploration in the deep-water Herodotus Basin in the west Mediterranean concession.
The two agreements involve North Marina and North Cleopatra concessions in which Shell Egypt holds a 63% share through its wholly-owned subsidiary BG Delta Limited, while Chevron-owned Noble Energy owns 27% and Tharwa Petroleum Company has the remaining 10%, with an area of 6,477 square kilometers, according to a statement on Monday.
Khaled Kassem, Chairman of Shell Egypt, said the agreements are in line with Shell’s strategy to expand its natural gas operations in the offshore and deep-water areas in Egypt.
