The Shura Council’s Industrial and Energy Committee approved nine agreements to search for oil and natural gas in the areas of the Gulf of Suez and western and eastern desert.
According to the terms of agreement, the exploration companies shall spend $222.65 million in investments in oil and gas exploration, said Shamil Hamdy, under-secretary of the Ministry of Petroleum. He added that this month will witness the first oil and gas exploration in Upper Egypt after required studies.