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Sunday, 10 December 2017

EGPC signs 3 oil and gas exploration agreements worth USD 50 mn

The EGPC has signed oil and gas exploration agreements with three international companies worth a combined USD 50 mn, an Oil Ministry official tells Al Borsa. These include a USD 20 mn oil and gas exploration agreement with our friends at Apex International in the West Badr El Din concession in the Western Desert, a USD 10 mn gas exploration agreement with Trident Petroleum for exploration in the Magawish block of the East Esh El Mallaha concession, and a USD 20 mn oil and gas exploration agreement with Apache-Khalda in the Alam El Shawish concession in the Western Desert.

Meanwhile, it looks like Noble Energy is trying to make a play for the potential gas pipeline linking Cyprus’ offshore gas fields to Egypt’s processing facilities, Al Masry Al Youm reports. The group’s senior Vice President of the Eastern Mediterranean area Keith Elliott met with Oil Minister Tarek El Molla to discuss this and other potential energy projects on Saturday.

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