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  • 11-02-20

    Agreement between Egypt, Germany to explore oil, natural gas in Nile Delta

    (MENAFN) On Monday, according to Egypt's Petroleum Ministry, Egypt and Germany's giant Wintershall DEA inked an agreement to explore oil and natural gas in the Nile Delta, with a minimum investment of USD43 million.


    As said in a statement by the ministry, according to the agreement, the German company will explore oil and gas in the East Damanhour Bloc in the Nile Delta in north of Cairo.


    The statement added that, the minimum investment is USD43 million to drill 8 wells, with a signature funding of USD11 million.


    After this agreement, Egypt has inked 61 petroleum agreements with investors in the past 4 years, with a minimum investment of about USD6 billion.

    MENAFN1102202000450000ID1099685137

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