Egypt: 2 new agreements to explore for oil, natural gas


(MENAFN) Inking of 2 new deals to explore for oil and natural gas in the Mediterranean, with a minimum investment of USD332 million was stated by Egyptian Ministry of Petroleum.


According to the Egyptian Ministry of Petroleum, Egyptian Minister of petroleum Tariq Al-Mulla inked both deals with Egyptian Natural gas Holding Company (EGAS) and the U.S. ExxonMobil oil company.


The Ministry said in a statement that, under the first deal, with a minimum investment of USD220 million and a signature grant of USD10 million, 4 wells will be drilled in the Northeastern Amiriya marine region in the Mediterranean.


With a minimum investment of 112 million dollars, and a signature grant of 7 million dollars, 3 wells will be drilled in the northern Maracea marine region in the Mediterranean under the second agreement.

MENAFN2901202000450000ID1099619295


MENAFN

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.