Egypt: 2 new agreements to explore for oil, natural gas
Date
1/29/2020 2:29:18 AM
(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.
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