Wednesday, 18 January 2017
Egypt signed two exploration and production agreements in the Western Desert and Suez Canal regions, Aswat Masriya reported. The first agreement was signed with Sahara for Oil and Gas, a sister company of Sahara Petroleum Services (SAPESCO), with an investment value of USD 30 mn. The second agreement was inked with the Offshore Shukeir Oil Company to carry out exploration on behalf of EGPC in the Suez Canal region.
17 JANUARY 2017
Aswat Masriya (Cairo)
Cairo — Egypt's Petroleum Minister Tarek al-Molla signed two agreements for oil and gas exploration in the Western Desert and the Suez Canal regions on Tuesday.
Egypt aspires to increase its oil and gas production to meet the growing domestic demand for energy.
According to the ministry's statement, the first deal was signed with the Egyptian General Petroleum Corporation (EGPC) and Sahara for Oil and Gas with a total investment worth at least $30 million.
