Egypt's government approves three new oil and gas agreements worth $265m

MENA, Thursday 13 Feb 2014

Deal with companies from the UAE, Italy and Ireland come after Egyptian government approved eight other deals in January worth $2.1 billion

The Egyptian government has finalised three new oil and gas exploration agreements designed to bring $265 million worth of investment to the sector.

Oil minister Sherif Ismail signed the agreements on behalf of Egas (National Natural Gas Holding Company) with three companies: Dana Gas, Edison and Petroceltic, from the UAE, Italy and Ireland, respectively.

According to the agreements, explorations will take place in the Mediterranean, the Nile Delta and the Gulf of Suez, and eight wells will be drilled. 

Egypt's government in January approved eight other oil and gas exploration deals worth $2.1 billion.


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