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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

THE TRUTH ABOUT: Shell acquires egypt s offshore block 3 - Caught on Camera

Shell Egypt BG Exxon Mobil Shell PLC Mediterranean Sea Vice President
Customers fuel up at a Shell gas station in Westminster, Colorado October 30, 2008. REUTERS/Rick Wilking

A subsidiary of Shell plc, BG International, signed a farm out agreement (FOA) with ExxonMobil Egypt to acquire a 100% stake in the Exxon Mobil-operated North East El-Amriya offshore area, Mediterranean Sea, also known as Block 3, a Shell statement said on Wednesday.

"On completion of the transfer, BG will become the operator," it added, according to Reuters.

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