Last Update 20:2
Sunday, 19 August 2018

Egypt steps up efforts to attract Gulf of Suez investment

Reuters , Monday 12 Feb 2018
Tarek El-Molla
Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla (AFP)
Share/Bookmark
Views: 3352
Share/Bookmark
Views: 3352

Egyptian oil minister Tarek El Molla on Monday announced an agreement with an international company to conduct a seismic survey of the Gulf of Suez to attract exploration investment in the area.

Molla also said that Egypt was working to improve the quality of fuel products in cooperation with foreign marketing companies.

"An agreement was signed between the oil sector and one of the major international companies to conduct a regional seismic survey in the Gulf of Suez that will help attract global companies to intensify search and exploration work," Molla told an energy conference in Cairo.

He did not name the company or give any details on the agreement.

Egypt last year began production from it's mammoth offshore Zohr gas field in the Mediterranean, with initial output of 350 million cubic feet per day.

Discovered in 2015 by Italy's Eni, the field contains an estimated 30 trillion cubic feet of gas.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.