Egypt to Invest $1.4bn Into New Offshore Exploration Projects
Egypt to Invest $1.4bn Into New Offshore Exploration Projects Posted 06/01/2021 10:02 Egypt has announced plans to explore for oil and natural gas at nine new sites in the Mediterranean and Red Sea, which will see around $1.4bn invested into the country’s offshore sector.The Egyptian Ministry of Petroleum and Mineral Resources expects to drill a total of 23 new wells across both seas. The state’s Ministry of Petroleum and Mineral Resources announced the news, and expects to drill a total of 23 new wells across both seas. The ministry also noted that it had reached a total of 12 agreemen...
Source: oilandgaspeople.com