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FinancialNews
03-01-21
Egypt signs agreements to search for petroleum, natural gas
(MENAFN)Nine new petroleum agreements were signed by the Egyptian Ministry of Petroleum and Mineral Resources, to look for petroleum and natural gas in the Mediterranean and the Red Sea with six major international and Egyptian companies.
The ministry amounted at a total of 12 agreements in the pandemic, with a minimum investment of about USD1.4 billion, to drill 23 wells in nine regions in the Mediterranean and three regions in the Red Sea, emphasized that the three further agreements are to be signed in the future, stated Egyptian Minister of Petroleum Tarek El-Molla.
The Egyptian Tharwa Petroleum"s participation announced the potential expansion of its activities and those of other Egyptian companies in this sphere, he further said.
MENAFN03012021000045011369ID1101375666
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