Latest Breaking News On - Cheiron petroleum co - Page 1 : comparemela.com

Message : Required fields Cairn, in consortium with Cheiron, has agreed to acquire Shell s oil-and-gas portfolio in the Western Desert of Egypt for $646 million upfront and up to $280 million in contingencies The group has also agreed a $460 million asset disposal in the U.K., and said it is taking all necessary steps to realize the $1.2 billion Indian damages award Cairn s 2020 net loss came in at $394 million By Jaime Llinares Taboada Cairn Energy PLC on Tuesday said that its consortium with Cheiron Petroleum Co. has agreed to acquire Royal Dutch Shell PLC s Western Desert assets in Egypt for $646 million. The FTSE 250 energy company said Western Desert will expand and diversify its producing asset base, as the deal is expected to add 33,000-39,000 barrels of oil equivalent a day in 2021 of which 66% is gas. Cairn will acquire 50% of the assets and pay 50% of the price.

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