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 […]