Petroleum min. says int'l exploration bid to be launched end of 2018

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MENA

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Tue, 31 Jul 2018 - 10:24 GMT

BY

MENA

Tue, 31 Jul 2018 - 10:24 GMT

Tarek El-Molla, Egypt's Minister of Petroleum and Mineral Resources speaks during an interview with Reuters at his office in Cairo, Egypt, October 29, 2015.

Tarek El-Molla, Egypt's Minister of Petroleum and Mineral Resources speaks during an interview with Reuters at his office in Cairo, Egypt, October 29, 2015.

CAIRO - 31 July 2018: An international bid to explore for oil and gas in the Red Sea will be launched by the end of 2018, said Petroleum Minister Tareq el Molla Tuesday.

A seismic survey has already been conducted in the area in cooperation with WesternGeco, a geophysical services company, Molla said in a statement.

He said his Ministry is working to increase investment opportunities in the petroleum sector.

Egypt is eyeing new exploration projects in the Red Sea and West Mediterranean regions, Molla added.

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