Financial Times: Shell sells Egyptian gas holding

By James Boxell

Published: June 5 2004 5:00 | Last Updated: June 5 2004 5:00

Royal Dutch/Shell has sold its 40 per cent stake in an offshore Egyptian gas field, as part of its strategy to "actively manage its portfolio" to the state-owned Kuwait Foreign Petroleum Exploration Company.

The Anglo-Dutch energy group deemed the Rosetta Concession in the Nile Delta non-core because it was not the operator of the field, while there was limited potential for further exploration and few synergies with its other operations. BG Group, which operates the field, has a 40 per cent stake. James Boxell