CAIRO, May 18 Reuters A subsidiary of Shell plc, BG International, signed a farm out agreement FOA with ExxonMobil Egypt to acquire a 100 stake in the Exxon Mobiloperated North East ElAmriya offshore area, Mediterranean Sea, also known as Block 3, a Shell statement said on Wednesday.

On completion of the transfer, BG will become the operator, it added.

Khaled Kacem, Shells Vice President and Country Chair for Egypt, also said that the company plans to potentially begin drilling of the first well during the first half of 2023.

Reporting by Sarah El Safty; Writing by Enas Alashray; Editing by Louise Heavens

Source Reuters