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Tuesday, 11 February 2020

Egypt signs USD 43 mn gas exploration agreement with Wintershall Dea

Egypt signs USD 43 mn gas exploration agreement with Wintershall Dea: Oil Minister Tarek El Molla signed a USD 43 mn gas exploration and production agreement with Wintershall Dea to drill eight wells in East Damanhour concession area with a minimum investment of USD 43 mn and signing grants of USD 11 mn, according to a ministry statement. Egypt has so far this year signed more than USD 800 mn in oil and gas agreements, including a USD 332 mn pact with ExxonMobil and nine agreements worth USD 450 mn with Shell and Apache.

El Molla also met with Schlumberger CEO Olivier Le Peuch, according to a ministry statement. The two also looked into the company's projects in the field of supporting the digital transformation in the Egyptian oil and gas industry.

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