Saturday, December 03, 2016

Egypt Announces New Investments in Oil and Gas Exploration Worth $200 Million 
Ahram Online
Friday 2 Dec 2016

Egypt has accepted investment offers in oil and gas drilling and exploration worth $200 million, the petroleum ministry announcedon Friday.

The companies that won the bids include Shell, British Petroleum, Apache and Apex, the ministry said in a statement.

The oil and exploration deals are for Egypt's Gulf of Suez and Western Desert.

Egypt is seeking to attract investments in the energy sector to revive an economy battered by years of political instability.

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