Shell to boost deepwater investments, but is owed substantially by government

shellShell will be increasing exploration and drilling at its deepwater concessions in Burullus and Rosetta concessions, according to statements by Aidan Murphy, Shell Egypt VP and country chairman.

The company plans to expand its investments there following promising data on the size of the concessions. Murphy also stated that the company is owed a substantial sum by the government, Al Shorouk reports, possibly tying these future investments to the government’s ability to payback its arrears.

(Source: Enterprise.press)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s