Farm Out Agreement - EastMed Energies

Egypt Mediterranean Block

Shell Signs FOA with KUFPEC for Stake in Egypt’s Mediterranean Block

  • by Doaa Ashraf
  • Wednesday, 20th September 2023

BG International Limited, a subsidiary of Shell plc, has announced that it signed a Farm Out Agreement (FOA) with KUFPEC, a wholly owned subsidiary of Kuwait Petroleum Corporation, where KUFPEC will acquire a 40% stake in Block 3 in NorthEast El-Amriya in the Egyptian Mediterranean Sea. A farm-out agreement (FOA) is a type of contract […]

Farm Out Agreement

KUFPEC, Shell Seal FOA in Egypt

  • by Doaa Ashraf
  • Wednesday, 20th September 2023

BG International Limited, subsidiary of Shell plc., signed a Farm Out Agreement (FOA) with KUFPEC Egypt Limited (KEL), subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC). According to the agreement, KEL will acquire 40% stake in Block 3 (NorthEast El-Amriya) in the Egyptian Mediterranean Sea. This FOA is subject to government and regulatory approvals, without […]

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