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16-09-18
Egypt inks 2 agreements on exploring petroleum, gas
(MENAFN) Egypt was announced to have inked two agreements with foreign companies on petroleum and gas exploration.
The exploration of petroleum and gas was explained to be conducted within a couple of deep-water areas in the Mediterranean and the Western Desert.
The agreements were penned by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla with firms from the UK, Kuwait, Malaysia, Canada and the Netherlands.
The Egyptian ministry, in a statement, unveiled the agreements to be covering drilling twelve wells, with no less than USD1 billion of investment.
MENAFN1609201800450000ID1097439440
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