Tawasul
Mubasher TV
Contact Us Advertising   العربية

Shell hires Citibank for $1bn sale of assets in Egypt

Shell hires Citibank for $1bn sale of assets in Egypt
The sale process may be launched at November end

Cairo – Mubasher: Royal Dutch Shell has reportedly appointed Citibank to manage the sale of the company’s onshore oil and gas assets in Egypt’s Western Desert, Reuters reported on Friday.

Expected to be launched at the end of November, the sale may generate $1 billion, informed sources told the international news agency.

In October, Shell announced plans to sell its onshore upstream assets in the Western Desert to expand in offshore gas exploration in Egypt.