The Egyptian Minister of Petroleum and Mineral Resources, Tarek el Molla, witnessed the signing of two agreements between the ministry and Schlumberger on the sidelines of the Egypt Petroleum Show (EGYPS 2018), Egypt Oil & Gas reports.

The first agreement includes the conduction of a regional seismic survey in the Gulf of Suez area. The deal was signed by the Ministry’s First Undersecretary for Agreements and Discoveries, Ashraf Farg, and Schlumberger’s Vice President & Managing Director, Egypt & East Mediterranean Region, Hussein Fouad El Ghazzawy.

“The signing of the deal came among the initiatives which were announced within the opening of EGYPS 2018, and aim to perform regional seismic survey and re-assess the data related to Suez Canal Gulf area, which has been producing for more than 60 years,” El Molla highlighted.

The second agreement includes a project for launching an Egyptian website to market the petroleum areas and exploration through establishing a database that will contain the exploration and production (E&P) activities.

The website aims to collect, process, update, and monitor all data, using latest technologies. It is also expected to prepare data packs to announce concessions, and process the new seismic data while enhancing the old ones to determine the promising geological combinations.