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Egypt to tender 10 or 11 Mediterranean concessions for oil and gas exploration

Egypt to tender 10 or 11 Mediterranean concessions for oil and gas exploration

Egypt to tender 10 or 11 Mediterranean concessions for oil and gas exploration

  • 18-April-2018

Egypt will auction 10 or 11 oil and gas exploration blocks in the Mediterranean, petroleum minister Tarek El Molla said on Tuesday.

Egypt also aims to auction oil and gas drilling in the Red Sea by the end of 2018, Molla told a news conference.

Egypt plans to speed up production from recently discovered fields, with an eye to halting imports by 2019 and achieving self-sufficiency.

 

Source: Reuters

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