A disagreement between the partners at the key West Delta Deep Marine (WDDM) offshore gas project could see the next phase of the project canned. MEES understands a high-level meeting will take place in Cairo in the coming weeks between the management and CEOs of Anglo-Dutch major Shell, which operates the field and its partner, Malaysian state-firm Petronas.
Egypt’s complex upstream corporate structure sees Shell (25%) and Petronas (25%) partner with state oil firm EGPC (50%) to form the Burullus Gas Company, which undertakes exploration and field development operations at WDDM. Costs are split 50:50 between the two foreign partners. (CONTINUED - 817 WORDS)