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Shell announces new natural gas discoveries in Egypt's Western Desert

Reuters - UK Focus

CAIRO, Aug 31 (Reuters) - Royal Dutch Shell (LSE: 0LN9.L - news) announced on Wednesday new natural gas discoveries in a concession area of north Alam El-Shawish in Egypt's western desert.

The initial quantities discovered were estimated at about half a trillion cubic feet of gas with more possible reserves, Eden Murphy, chairman and CEO of Shell (LSE: RDSB.L - news) said in a statement.

The discovery could produce from 10 to 15 percent of the total production of Badr el-Din Petroleum company, which is a joint venture acting on behalf of the state-owned Egyptian General Petroleum Corporation (EGPC) and Shell in production operations, Murphy added.

Shell owns the license of the entire area, which includes the well. Badr el-Din is expected to manage the operations. (Reporting by Alaa Roushdy; Editing by Ruth Pitchford)