Anglo-Dutch major Shell has cut short a major Egypt deepwater exploration drilling campaign. The decision was in part due to the key Montu-1 well coming up dry, but the timing was clearly precipitated by the major’s global capex cuts.

The key Montu-1 wildcat on the West Delta Deep Marine (WDDM) acreage of the Burullus JV grouping Shell (50%) and Petronas (50%) finally completed last week having initially spudded last August. The total depth was 7,000ms with the key target in the pre-Messinian. (CONTINUED - 668 WORDS)