Petroleum Africa
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Tuesday, December 8, 2015
Egypt saw two agreements signed for oil and gas exploration.The country’s Minister of Petroleum and Mineral Resources, Tarek El-Molla signed agreements for exploration in the Gulf of Suez and Western Desert.
The first agreement is for the Haliph area in the Western Desert with Tunisia’s HBSI, with minimum investments of about $9 million and a signature bonus of $1 million, to drill four exploration wells. The second agreement was a contract extension for EGPC’s Gazurina oilfield for an additional 10 years. The oilfield is in the Gulf of Suez.
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