Royal Dutch Shell plans to sell its onshore upstream assetsin Egypt's Western Desert to focus on expanding its Egyptian offshore gasexploration, Shell Egypt said on Sunday.
Having won three oil and two gas concessions in Egyptlast February, senior executive last week told Reuters that the company wouldstart operating the new areas in the second half of next year.
"We remain committed to Egypt and see our future insupporting the government's energy hub vision by growing Shell positions acrossthe offshore and LNG value chain," Wael Sawan, Shell upstream director,said in a statement.
"This is where we can best leverage ourexpertise, deliver the strongest added value to Egypt and optimise ourportfolio to ensure the company delivers a world class investment case."
ShellEgypt Chairman Khaled Kacem said that he expects talks with potential buyers ofthe Western Desert assets to start in the final quarter of this year.
