Egypt has signed oil and gas exploration deals with several Western firms and a Tunisian company at a total value of $187 million, Arab News reported quoting the petroleum ministry.
The deals cover seven exploration areas. Germany-based RWE won two exploration blocks in the Gulf of Suez, while Tunisia’s HBSI, Canada’s TransGlobe and Italy’s Edison secured five blocks in Egypt’s western desert.
Egypt’s General Petroleum Corporation (EGPC) and Natural Gas Holding Company (EGAS) had announced in December an international auction for oil and gas exploration concessions in accordance with production sharing agreements.
The concessions are for areas in the Suez Canal, Egypt’s western desert, the Mediterranean sea and the Nile Delta, the state-owned firms said
The deals cover seven exploration areas. Germany-based RWE won two exploration blocks in the Gulf of Suez, while Tunisia’s HBSI, Canada’s TransGlobe and Italy’s Edison secured five blocks in Egypt’s western desert.
Egypt’s General Petroleum Corporation (EGPC) and Natural Gas Holding Company (EGAS) had announced in December an international auction for oil and gas exploration concessions in accordance with production sharing agreements.
The concessions are for areas in the Suez Canal, Egypt’s western desert, the Mediterranean sea and the Nile Delta, the state-owned firms said
Source:
Mubasher
