Saturday, 2 January, 2021 - 09:45
A gas field in Egypt. (Reuters) Asharq Al-Awsat
Egypt has signed nine new agreements, valued at more than $1 billion, with six local and international companies for exploration of oil and natural gas, announced Ministry of Petroleum and Mineral Resources.
The ministry said in a press statement that the companies will drill 17 wells in the eastern and western Mediterranean Sea and regional water of the Red Sea.
The nine deals were concluded with Exxon Mobil Corporation, Chevron Corporation, South Valley Egyptian Petroleum Holding Company, and Total along with its partners: Kuwait Foreign Petroleum Exploration Company (KUFPEC), Shell, and Tharwa.