Announced
Completed
Financials
Tags
Egypt
Oil Equipment and Services
Infrastructure
Private
Friendly
Single Bidder
Majority
upstream assets
Cross Border
Acquisition
Completed
Synopsis
Cairn Energy, an independent oil and gas exploration and development company, completed the acquisition of the Egyptian upstream assets of Shell, a British-Dutch multinational oil and gas company, for $926m. The gas-weighted portfolio, in a region with strong demand growth, offers low cost production, near-term development, owned infrastructure and significant exploration potential.
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