Tullow Oil has concluded farm-out arrangements for its interest in the North Abu Rudeis Block, onshore Sinai, Egypt. As the operator, Tullow would have 33.3 per cent while Shell will have 33.3 per cent and Cabre Exploration would own the remaining 33.3 per cent.

Prior to the farm-out Tullow had 60 per cent and Cabre had 40 per cent.

The block is beside the onshore Abu Rudeis and Sidri oil fields and near the October oil field in the offshore gulf. Seismic research is already available and Tullow said "after its interpretation a well will be drilled on the prospect in the third quarter of 1997".