Shell plans to start operating five oil and gas leasing areas in Egypt

Shell plans to start operating its five oil and gas leasing areas in Egypt in the second half of 2020, a Dutch Shell executive said on October 17. In February this year, shell won three oil and two natural gas concessions in a new round of bidding in Egypt. As Egypt seeks to maintain investment growth driven by major discoveries, Eni, BP and ExxonMobil also won part of a total of 12 oil and gas leasing area bids in this round of bidding in Egypt. Gerald schotmann, executive vice president of shell's upstream joint venture, told Reuters that shell also applied to participate in a new round of Red Sea oil and gas drilling bidding in Egypt. In an interview in Alexandria, Egypt, schotman said that if Shell wants to expand its business in Egypt, it is also interested in bidding for oil and gas exploration in the Mediterranean.