More petroleum, gas excavations to take place in Red Sea within coming period

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Thu, 19 Sep 2019 - 02:14 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 – Reuters Photo

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 – Reuters Photo

CAIRO - 19 September 2019: Petroleum Minister Tarek el Molla stressed on Thursday that more oil and gas excavations will take place in the Red Sea within the coming period after the results of Egypt's first international bidding in this area are announced.

Among the companies applying for the tender are Shell, ExxonMobil, Statoil, Dragon Oil, Russian Rosneft and Total France.

Molla gave the remarks during a meeting of the general assembly of Ganoub El Wadi Petroleum Holding Co.

Meanwhile, Molla said the ministry continues to carry out a package of petroleum projects in Upper Egypt to secure their local needs.

Also, the ministry continues to extend natural gas pipelines to Upper Egypt governorates, he said, adding that the number of gas beneficiaries in these governorates has increased.

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