* Western Desert sale process to launch end of Nov.
* Shell's share of production reached 100,000 boed last year
By Ron Bousso
LONDON, Nov 15 (Reuters) - Royal Dutch Shell has
appointed investment bank Citi to run the sale of its onshore
Egyptian oil and gas assets which could fetch around $1 billion,
sources close to the process said.
The sale process is expected to be officially launched at
the end of November, the sources said.
Shell said last month it plans to sell its onshore upstream
assets in the Western Desert to focus on expanding its Egyptian
offshore gas exploration.
The Western Desert portfolio includes stakes in 19 oil and
gas leases of which Shell's working interest included production
of around 100,000 barrels of oil equivalent per day last year,
one of the sources said.
Shell declined to comment. Citi did not reply to a request
for comment.
Egypt's oil and gas sector has seen a rapid expansion in
recent years after the discovery of vast offshore gas reserves
has drawn major investments from international companies
including Eni and BP.
At the same time, Egypt's ageing oil and gas assets have
changed hands. BP earlier this year sold its decades-old stake
in the Gulf of Suez Petroleum Company (GUPCO) to Dubai-based
Dragon Oil Ltd.
(Reporting by Ron Bousso; editing by David Evans)
BP (BP.)
