Royal Dutch Shell: Shell Completes Sale of Western Desert Assets in Egypt to Cheiron Petroleum Corporation and Cairn Energy PLC


The sale was announced on March 9, 2021 and the effective date of the transaction is January 1, 2020. Finalization follows receipt of all necessary regulatory approvals.

With this transaction, Shell is refocusing its activities in Egypt on our existing infrastructure position in the West Delta Deep Marine (WDDM), the Harmattan Deep project and the exploration permit in the seven new blocks of the Nile Delta, Mediterranean western and Red Sea; to Midstream via our Egyptian joint venture LNG (ELNG); and downstream by Shell Lubricants Egypt (SLE).

Shell has been active in Egypt for 110 years and remains a major player in the country.

Notes to Editors
  • The effective date of January 1, 2020 represents the date on which the economic interest has been transferred to the buyers. The consideration will be adjusted for net cash flows after this date.
  • Shell Egypt NV (“SENV”) and Shell Austria GmbH (“SAG”) (collectively referred to as “Shell” or “Sellers”) are indirectly owned by Royal Dutch Shell plc.
Warning

The companies in which Royal Dutch Shell plc directly and indirectly hold investments are separate legal entities. In this advertisement, “Shell”, “Shell Group” and “Group” are sometimes used for convenience when references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “our” and “our” are also used to refer to Royal Dutch Shell plc and its subsidiaries in general or to those who work for them. These terms are also used when it is not useful to identify the particular entity or entities. “Subsidiaries”, “Subsidiaries of Shell” and “Shell companies” as used in this announcement refer to entities over which Royal Dutch Shell plc has direct or indirect control. Unincorporated entities and arrangements over which Shell exercises joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Entities over which Shell exercises significant influence but without control or joint control are called “associates”. The term “Shell Interest” is used for convenience to denote the direct and / or indirect interest held by Shell in an unincorporated entity or partnership, after exclusion of any third party interest.

This announcement contains forward-looking statements (within the meaning of the United States Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and business of Shell. All statements other than statements of historical fact are, or may be considered, forward-looking statements. Forward-looking statements are statements of future expectations based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed. or implied in these statements. Forward-looking statements include, among other things, statements regarding Shell’s potential exposure to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by the use of terms and expressions such as “aim”, “ambition”, “’anticipate”, “’ ” ”,“ ” ” ” ”, expect ”, ” goals’ ‘,’ ‘intention’ ‘,’ ‘may’ ‘,’ milestones’, ” goals’ ‘,’ ‘outlook’ ‘,’ ‘plan’ ‘,’ ‘probably’ ‘,’ ‘project’ ‘,’ ‘risks”, ‘schedule’, ” seek ”, ” should ”, ” target ”, ” will ” and similar terms and expressions. There are a number of factors which could affect Shell’s future operations and could cause these results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) fluctuations in the prices of crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market share and competition in the industry; (g) environmental and physical risks; (h) the risks associated with identifying suitable properties and potential acquisition targets, and successfully negotiating and completing such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments, including regulatory measures relating to climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including risks of expropriation and renegotiation of the terms of contracts with government entities, delays or advances in project approval and delays in reimbursement of shared costs; (m) the risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) epidemic; and (n) changes in trading conditions. No guarantee is given that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell plc Form 20-F for the year ended December 31, 2020 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be taken into account by the reader. Each forward-looking statement speaks only as of the date of such announcement. Neither Royal Dutch Shell plc nor any of its subsidiaries undertakes to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those declared, implied or inferred from the forward-looking statements contained in this announcement.

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We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly forbids us from including in our documents with the SEC. Investors are urged to carefully review the disclosure in our Form 20-F, File No. 1-32575, available on the SEC’s website www.sec.gov.

Royal Dutch Shell plc LEI number: 21380068P1DRHMJ8KU70



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