Egypt inks six new oil and gas exploration deals

Egypt has signed six new agreements for oil and gas exploration onshore and offshore, both with domestic and international operators.

The country’s Energy Ministry has said that, on Friday, January 9, 2015, Eng. Sherif Ismail, Minister of Petroleum and Mineral Resources, signed the agreements with the Dutch company Shell and the Italian IEOC, the British BP and Canada’s TransGlobe, along with Tharwa & General Petroleum Company, the state owned companies.

According to the Ministry of Petroleum’s statement, the companies will explore in the regions of Western Desert and the Gulf of Suez and drill 41 wells with a minimum investment of about $5.2 billion and a signature bonus of $124 million.

The Minister of Petroleum pointed out that these agreements are only the beginning, as the country plans to sign 14 more similar deals “over the coming period.”

The Ministry of Petroleum noted that the Petroleum Sector had already signed 36 petroleum agreements between November 2013 and the end of October 2014 with minimum investments of about 2 billion dollars.

Offshore Energy Today Staff

 

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply