Petroleum Ministry Signs 7 Gas Exploration Deals Worth $ 975M

Source: 5/23/2020, Location: Africa

The Ministry of Petroleum and Mineral Resources said it signed seven agreements on natural gas exploration with total investments worth 975 million dollars, along with grant agreements estimated at dollars 46 million.

Also, seven others agreements have been initialed with investments worth 690 million dollars, according to a report received by Petroleum Minister Tarek el Mulla from Chairman of the Egyptian Natural Gas Holding Co. (EGAS) Osmaa el Boqaly.

The drilling operations of 10 exploratory wells have been finalized, while a new exploratory well is being drilled with totals investments of dollars 314 million, the reports added.

The EGAS report highlighted the performance of natural gas manufacturing during the current fiscal year 2019/2020, in the the period between July, 2019 till April, 2020, according to a statement issued by the Ministry of Petroleum.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

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