CAIRO, EGYPT - 21 June 2020: Minister of Petroleum and Mineral Resources Tarek El Molla said that the 12 agreements recently approved in the oil sector with a total investment of over one billion dollars have been approved by the petroleum sector in the past Reflect the success and progress achieved. Period.
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| Tarek El-Molla, Egypt's Minister of Petroleum and Mineral Resources |
Necessary legal measures related to bringing the agreements into action are to be referred to Parliament for further discussion.
In a statement released on Sunday, the minister said the agreements elicited keenness on adapting to the latest achievements of the oil sector, particularly in the oil exploration sector, along with an increase in wooing huge world companies working in the sector. Proved it.
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The minister noted that the leading oil companies, ExxonMobil, Chevron, Shell, Wintershall DEA GMB, PB Petroleum and others are operating using the latest excavation and research advances in Egypt.
He said 12 agreements with Chevron, Total, Edison, Nobel, KUFPEC and Mubadala included 8 agreements with Egyptian natural gas holding Co-EGAS.
"The two agreements envisage oil exploration and work operations to be implemented in the eastern part of the Mediterranean Sea, 6 in the west of the Mediterranean Sea, three in the Red Sea and one in the Western Desert."
The minister also referred to oil exploration agreements worth dlrs 19 million for drilling of some 21 wells.
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