07 October 2025
07 October 2025
The acquisition is part of Baker Hughes’ strategy to enhance its position as a provider of energy and industrial solutions.
The NOC for the project was issued in May 2025.
The updated CPR by Sproule-ERCE International reveals a 93-fold increase in 1P reserves.
The deal, pending approval from the Egyptian Government, will see Shell retain a 36% interest and operate the block.
The natural gas, totalling 100,000m³, was transported via pipelines from Argentina to Bolivia, and subsequently to Brazil.
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