Pharos eyes Shell Egypt bid

摘要

LONDON-LISTED junior Pharos Energy is considering the purchase of Shell's upstream portfolio in the Western Desert in Egypt, which was recently put up for sale by the Anglo-Dutch supermajor. Responding to press speculations, Pharos said late last week that it is part of a consortium that is in talks with Shell over the assets. The company said it is in "the preliminary stages of its evaluation". No other details of its partners were revealed.