The Petroleum Ministry said on Friday 09 January, 2015 that it signed oil and gas exploration agreements in the Western Desert and Gulf of Suez.

Petroleum Minister Sherif Ismail signed the agreements with Netherland’s Shell, Italy’s Eni, United Kingdom’s British Petroleum, Canada’s TransGlobe, Egypt’s Tharwa and the Egyptian General Petroleum Corporation, the ministry added in a statement.

The signed deals are worth 271.5 million dollars in investments, in addition to 124 million dollars worth of grants that were allocated to drilling 41 wells.

Source: State Information Services (SIS) Egypt