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Oil & Gas

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

Posted: November 20, 2016 at 12:57 pm   /   by   /   comments (0)

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.


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