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Egypt signs 9 oil and gas exploration agreements for Mediterranean and Red seas ...Egypt
Egypt’s Minister of Petroleum and Mineral Resources, Tarek el-Molla, signed on Friday nine new agreements to search for oil and natural gas in the eastern and western regions of the Mediterranean Sea and the regional waters of the Red Sea. The agreements were signed with six major international and Egyptian companies, including Egypt’s Tharwa Petroleum Company, and have an estimated minimum investment of more than one billion dollars. According to Molla, the agreements come as a part of the ministry’s initiative to promote investment opportunities and attract global investors to Egypt in hopes of creating strong partnerships with major companies in the global petroleum industry, such as Shel
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