GREEN DOCK 3 successfully transits Suez Canal in 24-hour operation    Gold prices rise on Monday    Oil prices hold near 2-week highs    Egypt calls for inclusive Nile Basin dialogue, warns against 'hostile rhetoric'    GAFI launches guideline for cash investment Incentive to support industrial projects    Egypt launches initiative to transform petroleum waste into value-added resources    Egypt, Qatar press for full implementation of Gaza ceasefire    Egypt, China's CMEC sign MoU to study waste-to-energy project in Qalyubia    Egypt plans new policies to drive private sector growth in tourism, energy, health    Egypt joins Japan-backed UHC Knowledge Hub to advance national health reforms    Egypt launches 32nd International Quran Competition with participants from over 70 countries    Al-Sisi reviews expansion of Japanese school model in Egypt    Egypt launches National Health Compact to expand access to quality care    Netanyahu's pick for Mossad chief sparks resignation threats over lack of experience    US warns NATO allies against 'bullying' American defence firms amid protectionism row    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt, Exxon Mobil signs two Mediterranean deals
Amwal Al Ghad Published in Amwal Al Ghad on 28 - 01 - 2020

Egypt has signed two deals with Exxon Mobil Corp for oil and gas exploration in the Mediterranean, the petroleum ministry said.
The deals involve a minimum investment of $332 million, the ministry said in a statement. Exxon Mobil announced the acquisition of more than 1.7 million acres last month.
The first agreement is for exploration in the North East Amriya block, with a minimum investment of $220 million, the ministry said.
The second is for the North Marakia block, with a minimum investment of $112 million.
The discovery of the giant Mediterranean field of Zohr by Italy's Eni in 2015 sparked increasing interest and investment in Egypt's energy sector.
The country is trying to position itself as an energy hub in the eastern Mediterranean, importing gas from Israel and exporting to Jordan and potentially to Europe and Asia.
The ministry said the Exxon Mobil agreements bring the total number of deals with investors to 82 since 2014, with a total minimum investment of about $16 billion for the drilling of 340 wells.

Clic here to read the story from its source.