Advertisment Egypt Signs New Agreements with European Oil Companies | Iran Energy News Skip to main content
IRAN Energy News Agency
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

Egypt Signs New Agreements with European Oil Companies

The oil sector will continue to sign more agreements to attract foreign investment.

Egypt's Minister of Petroleum and Mineral Resources Tarek El-Molla signed three agreements today for the exploration of oil and natural gas in the Mediterranean, Western Sahara and Nile Delta.

The agreements were signed for a value of 139.2 million dollars; the first of these was agreed between the Egyptian Natural Gas Company, the Egyptian company Tharwa Petroleum, and the Italian oil and gas multinational Eni to drill two new wells in the Mediterranean Sea of Egypt.

Molla reported that the second agreement was signed with the Egyptian Petroleum Authority, Eni, and the Croatian firm Ina to open nine wells in the area of Raas Qattara, in the western Egyptian desert.

The third contract was made between the Egyptian Petroleum Authority, Eni and the British multinational British Petroleum (BP) to drill four other wells in the Nile Delta.

El-Molla said the oil sector will continue to sign more agreements to attract foreign investment; and noted that Egypt's oil prospects are strong, both in the land sector and in the maritime sector.

News Code: 
13575
Join us on Telegram Channel."Energy Today"
Google +
Twitter
Facebook
Google Translate
Instagram
Digg
Telegram
Blogger
Linkedin
Pinterest

Add new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Fill in the blank.
49