Shell wins 5 oil, gas exploration tenders in Egypt

Shell wins 5 oil, gas exploration tenders in Egypt
Shell Egypt has been awarded oil explorations to drill 14 wells at three areas

Cairo – Mubasher: Royal Dutch Shell plc is looking to raise its investments in Egypt and resume oil and gas exploration in the country.

Shell Egypt has been awarded oil explorations to drill 14 wells at three areas, including west Fayioum, south-east Horus, and south Abu Sinan with $24.7 million, $24.5 million, and $7.8 million, respectively, Egypt’s petroleum minister Tarek El-Molla said on Tuesday in a press conference.

At the level of gas discovery, the company won $60 million and $9 million bids at the concessions of north Sidi Gaber and North Al-Fanar, respectively.

El-Molla had also announced the results of the Egyptian General Petroleum Corporation’s (EGPC) oil exploration bids with $164.5 million in investments at 39 wells.