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 […]