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Mubadala Signs Deal with Egypt for Red Sea Tract


Friday, 22 January, 2021 - 08:45
Image used for illustrative purpose. A man works on the rig of an oil drilling pump site in McKenzie County outside of Williston, North Dakota March 12, 2013. REUTERS/Shannon Stapleton
Cairo - Asharq Al-Awsat
Egypt’s Minister of Petroleum and Mineral Resources Tarek el-Molla inked a new production sharing contract between the state-owned Ganoub El-Wadi Petroleum Holding Company (Ganope) and Shell Egypt to explore for oil and natural gas in the deep waters of the Red Sea.
According to the agreement, Shell Egypt will explore in the Red Sea s Bloc 4, an area of 3084 sq km, Shell Egypt said in a statement. ....

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