{"id":570698,"date":"2020-04-12T04:38:11","date_gmt":"2020-04-12T04:38:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/12\/cheiron-pharos-cairn-move-to-second-round-of-bidding-for-shell-egypt-onshore-assets\/"},"modified":"2020-04-12T04:38:11","modified_gmt":"2020-04-12T04:38:11","slug":"cheiron-pharos-cairn-move-to-second-round-of-bidding-for-shell-egypt-onshore-assets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/12\/cheiron-pharos-cairn-move-to-second-round-of-bidding-for-shell-egypt-onshore-assets\/","title":{"rendered":"Cheiron, Pharos, Cairn move to second round of bidding for Shell Egypt onshore assets"},"content":{"rendered":"

<\/a> Cheiron consortium moves to second round of bidding for Shell Egypt onshore <\/strong>assets:<\/strong> A consortium of Cheiron<\/a>, Pharos Energy<\/a> and Cairn Energy<\/a> has moved to a second round of bidding to acquire Shell\u2019s onshore assets in Egypt, Bloomberg reports<\/a>, citing unnamed sources. Egypt\u2019s East Gas has also been invited to the next round of bidding, according to the sources, who said that other companies can still come forward and bid.<\/p>\n

Oil price war throws uncertainty into proceedings:<\/strong> Shell is moving forward with the sale for now, but recent oil price volatility could impact what buyers are willing to pay, the business information service says. The Dutch oil giant had been expecting to net as much as USD 1 bn for the assets, a target that now could be under threat due to the lowest price of oil, the sources said, emphasizing that discussions will not necessarily lead to a sale.<\/p>\n

Background: <\/strong>Shell announced last year<\/a> its intention to exit its onshore upstream assets in the Western Desert and focus on expanding its Egyptian offshore gas exploration efforts, appointing Citigroup to manage the estimated USD 1 bn sale. Cheiron and Pharos Energy submitted bids for the assets in February<\/a>, as did Egypt\u2019s Apex Energy, US oil and gas producer Apache, and other undisclosed Asian and Middle Eastern companies. Shell\u2019s portfolio in the Western Desert includes stakes in 19 oil and gas assets including the Badr El Din and Obaiyed area, as well as the North East Abu El Gharadig, West Sitra, Bed 1 gas, and West Alam El Shawish concessions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cheiron consortium moves to second round of bidding for Shell Egypt onshore assets: A consortium of Cheiron, Pharos Energy and Cairn Energy has moved to a second round of bidding to acquire Shell\u2019s onshore assets in Egypt, Bloomberg reports, citing unnamed sources. Egypt\u2019s East Gas has also been invited to the next round of bidding, […]<\/p>\n","protected":false},"author":1,"featured_media":570699,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[9707,294,72,4923,594,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-cairn","tag-citigroup","tag-enterpriseam","tag-onshore-assets","tag-shell","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"de2fa8c4-2fe1-460c-9c23-8484ece46e02","is_powered_by":true,"section_story_id":"0524268a-9b1e-4b7a-9c89-b2f9f8e3d82e","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/4\/101.jpg","photo_position":"above","related_issue":[570687],"teaser":"","voice_url":""},"yoast_head":"\nCheiron, Pharos, Cairn move to second round of bidding for Shell Egypt onshore assets - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/12\/cheiron-pharos-cairn-move-to-second-round-of-bidding-for-shell-egypt-onshore-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cheiron, Pharos, Cairn move to second round of bidding for Shell Egypt onshore assets\" \/>\n<meta property=\"og:description\" content=\"Cheiron consortium moves to second round of bidding for Shell Egypt onshore assets: A consortium of Cheiron, Pharos Energy and Cairn Energy has moved to a second round of bidding to acquire Shell\u2019s onshore assets in Egypt, Bloomberg reports, citing unnamed sources. 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Previous reports had indicated that Cairn Energy was part of a consortium that initially included\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/125.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564954,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/09\/cheiron-cairn-to-acquire-shell-egypts-onshore-assets\/","url_meta":{"origin":570698,"position":1},"title":"Cheiron, Cairn to acquire Shell Egypt\u2019s onshore assets","author":"enterpriseam admin","date":"9 March 2021","format":false,"excerpt":"Cheiron, Cairn to acquire Shell assets in a transaction worth up to USD 926 mn: Shell has agreed to sell its assets in the Western Desert to our friends at Egypt\u2019s Cheiron Petroleum Corporation and UK-listed Cairn Energy for up to USD 926 mn, the Dutch energy giant said in\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/428.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570915,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/pharos-pulls-out-of-consortium-bidding-for-shells-egypt-assets\/","url_meta":{"origin":570698,"position":2},"title":"Pharos pulls out of consortium bidding for Shell\u2019s Egypt assets","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"Pharos Energy bails on consortium eyeing Shell Egypt assets: Pharos Energy has withdrawn from a consortium in the running to acquire Shell\u2019s onshore assets in Egypt due to the collapse in oil prices, it said in a statement yesterday. Pharos was part of a consortium with Cheiron and Cairn Energy,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557608,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/26\/cheiron-cairn-energy-acquire-shells-western-desert-assets\/","url_meta":{"origin":570698,"position":3},"title":"Cheiron, Cairn Energy acquire Shell\u2019s Western Desert assets","author":"enterpriseam admin","date":"26 September 2021","format":false,"excerpt":"Shell is out of the Western Desert: Cheiron and partner Cairn Energy have acquired Shell\u2019s oil and gas assets in the Western Desert under an agreement in March that could be worth up to USD 926 mn, the three companies announced in separate statements on Friday (here (pdf), here and\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/350.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557152,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/08\/cairn-energy-expects-to-finalize-shell-egypt-acquisition-by-end-of-september\/","url_meta":{"origin":570698,"position":4},"title":"Cairn Energy expects to finalize Shell Egypt acquisition by end of September","author":"enterpriseam admin","date":"8 September 2021","format":false,"excerpt":"Cairn, Cheiron could replace Shell in the Western Desert before the month is out: Cairn Energy and partner Cheiron expect to finalize its takeover of Shell Egypt\u2019s onshore oil and gas assets by the end of September, Cairn said yesterday (pdf). The joint acquisition, which will see the assets split\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/102.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569535,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/27\/apache-pharos-energy-among-bidders-for-shells-onshore-assets\/","url_meta":{"origin":570698,"position":5},"title":"Apache, Pharos Energy among bidders for Shell\u2019s onshore assets","author":"enterpriseam admin","date":"27 February 2020","format":false,"excerpt":"M&A WATCH- Apache, Apex, Cheiron among bidders for Shell\u2019s onshore assets: US oil and gas producer Apache, Egyptian firms Apex International Energy, Cheiron, and London-listed Pharos Energy have submitted bids for Shell\u2019s onshore oil and gas assets in Egypt, Reuters reports, citing informed sources. Other undisclosed Asian and Middle Eastern\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=570698"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570698\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/570687"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/570699"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=570698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=570698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=570698"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=570698"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=570698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}