The Minister of Petroleum and Mineral Resources, Tarek El Molla signed two new agreements with Shell Egypt in the Herodotus Basin in offshore deep-water concession area in the Western Mediterranean, a press release reported.

The Minster of Petroleum and Mineral Resources, Tarek El Molla, signed an agreement with Shell Egypt for oil and natural gas exploration in concession area (4) in the Red Sea deep water.

Shell Egypt has announced it signed production sharing contracts (PSCs) in the offshore and deep-water concession of the Red Sea at Block 3 with distance of 3,097 Km² and in the offshore North Kanayes of Herodotus Basin in the West Mediterranean concession by 30% share. The contracts are shared with Total company, the main operator of the project, by 35%, KUFPEC limited by 25% and Tharwa Petroleum company by 10% at distance of 4,445 Km².

Petrojet was assigned to assist Baker Hughes in manufacturing and supplying seven deep-water equipment of 700 tons for a liquefied natural gas (LNG) project in Mozambique.

Total intends to make final investment decision on 10 oil and gas production projects in the next 18 months in various countries including Nigeria, Angola.

India's Oil and Natural Gas Corporation (ONGC) will invest around $5b to develop a major gas asset in the eastern Krishna Godavari (KG) basin, with a higher resulting level of output so that it will become the company's second biggest hydrocarbon asset in the country.

Royal Dutch Shell’s newest oil-production vessel, named the Turritella, set sail from Singapore this week for the world’s deepest underwater oil field, located in the Gulf of Mexico

Baker Hughes may have just solved one of the major problems facing oil and gas development in the Gulf of Mexico.

Rashid Petroleum Company (Rashpetco) has successfully completed drilling a new developmental well in West Delta Deep Marine concession, in the context of its development plan for the 2011-2012 fiscal year.