Egypt signs two oil and gas exploration agreements with investments estimated at $ 1 billion

Media In – Cairo – 15 September 2018

 Egypt signed two new oil agreements with Canadian, British, Dutch, Malaysian and Kuwaiti companies to explore oil and gas in two deep waters in the Mediterranean Sea and Western Sahara, with investments worth more than $ 1 billion. The first agreement was signed with the Egyptian Petroleum Authority, Shell International and Malaysia’s Petronas for exploration in the West Delta maritime region of the Mediterranean Sea to drill eight new wells in deep water with investments estimated at about one billion dollars, a statement said. According to the statement, the second agreement was signed with the Egyptian Petroleum Authority, Kuwait Energy, Dover Canada and Rockhopper, to explore the western region of AbuSnan with investments of $ 10 million and the drilling of four wells.