Partly, that may be the result of recent exploration history — it carried out a high-profile exploration programme on the Northeast Mediterannean (NEMED) block last decade that found gas, but ultimately not in the quantities to persuade the Anglo-Dutch supermajor that it could make commercial use of them.
On top of that, once its acquisition of BG was completed early last year, it gained a large new Egyptian portfolio that included challenges as well as opportunities.
