Shell last October put its 45,000 b/d, 410mn cfd Egypt Western Desert acreage up for sale, henceforth placing its Egypt focus on offshore gas and LNG (MEES, 25 October 2019), though here too it is cutting back (MEES, 24 April).

London-listed Pharos Energy, which on 6 March confirmed it was bidding for the acreage as part of a consortium with compatriot Cairn and Egypt independent Cheiron, this week pulled the plug on those plans “in light of current market conditions.” (CONTINUED - 240 WORDS)