STORY: Egypt awards 4 gas exploration contracts in Mediterranean, Nile Delta
DATELINE: Sept. 27, 2023
LENGTH: 00:00:52
LOCATION: Cairo
CATEGORY: ECONOMY

SHOTLIST:
1. the press conference
2. various of natural gas wells

STORYLINE:

Egyptian Natural Gas Holding (EGAS) announced on Tuesday that it awarded 4 exploration contracts in the Mediterranean and Nile Delta to foreign companies, with minimum investments of 281 million U.S. dollars and 7.5 million dollars in signing grants.

According to the state-owned newspaper Al Ahram, two exploration contracts in the Mediterranean were awarded to the Italian energy company Eni, and one contract was awarded to a consortium of Enit, British Petroleum (BP), and Qatar Energy.

Russian state-owned energy company Zarubezhneft was awarded a contract in the Nile Delta.

The 4 contracts were part of a tender closed in July 2023 on Egypt Upstream Gateway (EUG), which was launched in 2020.

The platform promotes Egypt's oil and gas industry by providing easy digital access to the country's geological and geophysical information, with advanced data visualization.

Egypt's state-owned oil companies Monday launched an international tender for exploration contracts in 23 new areas in the Western Desert, Eastern Desert, the Gulf of Suez, and the Red Sea.

By 2025, Egypt aims to dig 35 new exploratory natural gas wells in the Mediterranean and Nile Delta at a cost of 1.8 billion dollars.

Xinhua News Agency correspondents reporting from Cairo.
(XHTV)