Exxon Mobil was an original bidder when the Egyptian General Petroleum Corporation made the concession available in a 1998 licensing round, so its decision to farm in with Shell is no big surprise. Shell still has 75% of the block and is the operator. It is currently interpreting 3D seismic shot over the tract and there are positive indications with officials talking of numerous flat spots.
Exxon joins Egypt hunt
SHELL has brought in Exxon Mobil as a partner on its deep-water Northeast Mediterranean concession off Egypt, with the US giant taking a 25% stake in the block, writes Mark Hillier.
8 January 2000 0:00 GMT
Updated
8 January 2000 0:00 GMT