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Low domestic Saudi gas prices meant Shell’s Kidan sour gas joint venture never looked like taking off. The major is finally calling it quits.
Shell has finally confirmed what has been an open secret for some time. It has ended its involvement in the Kidan sour gas joint venture with Saudi Aramco in the forbidding Rub’ al-Khali desert, closing the chapter on a much heralded upstream opening in the kingdom over a decade ago.
“Shell has decided to end further investment in the Kidan development,” a Shell spokesperson says, adding the usual stock sentence that while the decision to drop Kidan was difficult, Shell is still committed to the kingdom and keen to grow its investments both in upstream and downstream. (CONTINUED - 1076 WORDS)