Egypt approves billions for oil deals in Nile Delta, Sinai, Gulf of Suez
CAIRO Ñ Egypt has concluded $2.3 billion worth of energy agreements.
Industry sources said the Egyptian Oil Ministry has agreed to
exploration projects for crude oil and natural gas in several areas of the
country. They cited the Eastern Desert, Nile Delta, Gulf of Suez and
northern Sinai.
The biggest agreement, estimated at $2 billion, was between the Oil
Ministry and BP.
The accords called for BP to develop gas fields in two
concessions in the East Nile Delta and two others in the Gulf of Suez.
Egypt has awarded an exploration concession in the Eastern Desert to
Tharwa Petroleum. The deal calls for Tharwa to develop resources in a
concession that covers 43 square kilometers.
