Petroleum Minister Tarek el-Molla during his participation in Rome MED 2017 forum - Press photo Petroleum Minister Tarek el-Molla during his participation in Rome MED 2017 forum - Press photo

Molla seals 2 new exploration deals

By: MENA
Tue, Jan. 28, 2020
CAIRO - 28 January 2020: Petroleum Minister Tarek el Molla has signed two exploration agreements with EGAS and ExxonMobil worth a minimum of $332 million.

The two companies will explore for oil and natural gas in the Mediterranean, a statement by the Petroleum Ministry said Tuesday.

An additional $17 million dollars will be allotted as grants for digging seven wells, the statement added.

The first deal includes digging four wells in northeastern Ameriya area at a minimum cost of $220 million, plus a grant of $10 million.

Three more wells should be dug in north Maraia region at a minimum cost of $112 million , plus a grant of $7 million.
 
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