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Wednesday, 21 August 2019

Korea National Oil Corporation to step up investment in Egypt

Korea National Oil Corporation is looking to increase its investment in Egypt and raise crude production from 12k barrels per day currently, the Oil Ministry announced in a statement (pdf). CEO Su Yeong Yang said during a meeting with Oil Minister Tarek El Molla on Tuesday that the company is interested in bidding for new exploration concessions soon to be put forward by the ministry. El Molla also discussed yesterday renovation plans of the Qena-Safaga-Abu Tartour railway line with Transport Minister Kamel El Wazir, the local press reported.

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