"Egypt seeks luring new international investments in gas and oil exploration, and concluding deals with big companies as a priority," remarked Minister of Petroleum Tarek Al Molla.
Developing many items of the oil deals has contributed a lot to boosting the competitiveness of Egypt as an attractive destination for investments amid stable economic conditions and reform, stated the minister.
The nine deals are part of 12-new-agreements that have been targeted since March last year with a minimum investment estimated at $1.4 billion for drilling 23 wells, nine of them offshore the Mediterranean and three in the Red Sea, added Al Molla.
(TradeArabia News Service, January 2, 2021)