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Anglo-Dutch major Shell saw its oil and gas output in Egypt rise to a 15-year high in the third quarter. This augurs well for its future in the country following its merger with UK firm BG, expected to complete in Q1 next year. Egypt was long BG’s single largest upstream producer but output has fallen precipitously in recent years.
Shell’s Bapetco JV with Egyptian state firm EGPC saw 15-year high output 514mn cfd gas and 51,000 b/d of oil from its Western Desert acreage in the third quarter of this year. This is up on 460mn cfd and 43,000 b/d at the end of last year. (CONTINUED - 831 WORDS)
DATA INSIDE THIS ARTICLE
|table||Egypt’S Gas Price* ($/Mn Btu)|