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316 Employees

  • Third-party revenues


  • Related-party revenues


  • Total revenues


  • Profit before tax


  • Tax paid


  • Tax accrued


  • Tangible assets


  • Stated capital


  • Accumulated earnings


Main business activities

  • Upstream
  • Downstream
  • Integrated Gas
  • Trading and Supply

Shell’s footprint

Shell has been present in Egypt since 1911 and is active in the exploration and production of oil and gas. Shell expanded its offshore activities in Egypt when it acquired BG Group in 2016. In 2021, Shell completed the sale of its upstream assets in Egypt’s Western Desert for a base consideration of $646 million and additional payments of up to $280 million between 2021 and 2024, contingent on the oil price and the results of further exploration. The transaction was tax exempt under Egyptian law. After the divestment, Shell remains a contractor for 11 offshore production-sharing contracts (PSCs).

Shell’s downstream activities in Egypt include the blending and marketing of lubricants.

Country financial analysis

Egypt’s statutory corporate income tax rate was 22.5% in 2021 and the corporate income tax rate for the exploration and production of hydrocarbons was 40.55%. The taxable income of each concession and legal entity is determined separately under Egyptian law. Consequently, the Egyptian tax base differs from the consolidated profit before tax reported. Our Payments to Governments Report for 2021 shows that Shell paid around $34 million in bonuses.

Payments for bonuses usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced or production has reached a milestone.
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Corporate income tax
This is a direct tax imposed on companies’ profits. It is sometimes levied at a national level but can also be levied on a state or local basis.
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Production-sharing contracts or concessions
A production-sharing contract (PSC) is a contractual arrangement between the holders of a resource, typically a country’s government, and a resource extraction company concerning how much oil or gas each party would receive. The company bears the mineral and financial risk of the initiative. It explores, develops and, if successful, manages production. Costs are recovered through the sales of oil or gas and what is left over is split depending on the terms of the contract.
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Profit before tax
These are profits after the deduction of operating costs but before the deduction of tax. This number forms the basis on which we apply local tax laws and then pay corporate income tax.
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