Shell is close to finalizing a deal to acquire development rights for Egypt’s offshore Rahmat natural gas field.
The deepwater field holds an estimated 1.3 trillion cubic feet of natural gas and 80 million barrels of condensate, based on figures from the Pharaonic Petroleum Company, a joint venture between BP and the Egyptian government, Asharq Business reported.
BP previously controlled the concession but relinquished it two years ago after missing the development deadline.
Shell submitted the top bid in an international tender that closed in early July, which covered 13 blocks, including Rahmat, the report added.
In March 2025, Egypt’s Ministry of Petroleum and Mineral Resources offered seven undeveloped Mediterranean fields, including Rahmat, along with six exploration concessions in the Gulf of Suez and the Western Desert to local and international firms.
source: www.zawya.com
African Energy Council