Petroleum Africa
Find us on: 
Wednesday, December 28, 2016
Rumors out of Egypt have Shell considering selling its stake in the Rosetta concession offshore the country. A Daily News Egypt report has a source close to the company saying that Shell decided not to carry out any development operations in Rosetta.
“Development will be expensive with almost no economic feasibility, considering the price of gas produced there,” he explained. Given that the government owes Shell in excess of $1 billion for its share of the resources produced on Shell holdings, and the current price of natural gas, weighing the costs of development are prudent.
Shell gained its stake in the Rosetta when it took over BG Group earlier this year.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
