Egypt, Chevron Advance $4 Billion Aphrodite Gas Project

Chevron, Shell, Sinopec, and CNOOC may invest $500M in a Kazakhstan oil exploration consortium, according to KazMunayGas. The venture, expected by year-end, will conduct seismic surveys and drill exploration wells. All four companies already operate in Kazakhstan.

Shell (SHEL) is selling Solenergi Power for $1.8B. The buyer aims to secure $1.5B in rupee project loans. Shell opposes Australia's proposed LNG export rule, citing potential price and economic impacts. The company has resumed Gulf of Mexico operations post-Hurricane Isaias. Shell was dropped from the WPC Energy Congress agenda due to regional tensions.

Shell has acquired a 30% stake in Equinor's Bay du Nord offshore oil project in Canada, a C$14 billion development. Equinor retains 70% and operates the project, targeting over 400 million barrels of oil. The deal aligns with Equinor's risk-sharing strategy, aiming for a final investment decision in early 2027.

Shell and partners will start a drilling campaign at Norway’s Ormen Lange gas field to recover 3.5 billion cubic meters more gas. First production is expected in 2029. Shell holds a 17.8% stake in the field.

Shell Canada acquired a 30% stake in Equinor's Bay du Nord offshore oil project in Newfoundland and Labrador, Canada. The project, with over 400 million barrels of recoverable oil, is targeted for a final investment decision in early 2027 and first oil in 2031. Shell sees the deal as aligning with its portfolio strategy, while Equinor maintains a 70% stake and operational control.

Shell received federal approval to deploy drones on offshore platforms in the Gulf, aiming to expedite damage inspections and resume production after hurricanes. The first drone is expected at the Mars project by late 2026, with potential savings of $50 million over three years. Shell plans to add five more drones in 2027 for real-time damage assessment.