Egypt to Issue Global Oil Exploration Tender
Egypt to Issue Global Oil Exploration Tender

Egypt to Issue Global Oil Exploration Tender

Egypt to Issue Global Oil Exploration Tender

Egypt’s Petroleum Ministry is in the process of issuing a global tender before the end of this year to explore petroleum wealth, including in the Red Sea.
The tender notice will be published for the exploration of petroleum products in oil reserves, including new sectors in the Red Sea, minister Tarek el-Molla was quoted by Arab News as saying.
Molla surveyed on Saturday the geophysical data collection process from Egypt's economic zone in the Red Sea.
The project is being implemented by an alliance between “Western Gecko—Schlumberger” and "TGS," with a total investment of $750 million.
The minister emphasized the project's importance in attracting global companies to conduct drilling operations and make new discoveries.
"South Valley Egyptian Holding Company would be enabled to offer international bids for oil exploration in Egypt's economic waters in the Red Sea, something that was not possible without the demarcation of the maritime border with Saudi Arabia," he clarified.
Molla stated that the companies have collected 95% of the data outlined in the project's plan and around 9,500 kilometers have been covered so far.


Short URL : https://goo.gl/1b2Fhd
  1. https://goo.gl/8MrEmQ
  • https://goo.gl/KwUZte
  • https://goo.gl/c1JeSs
  • https://goo.gl/s6fnNS
  • https://goo.gl/jn7mzE

You can also read ...

Iran has become an exporter of oil byproducts after years of import.
With the aim of producing Euro-5 diesel in Shiraz refinery,...
ExxonMobil Partners With Pakistan for LNG Terminal
ExxonMobil is working with a group of Pakistan’s large...
BP: Technology to Lower Oil Extraction Costs
Better technology could reduce the average production costs of...
Italy's Eni Promises Richer Returns After Higher Growth
Italian oil major Eni hiked its dividend on Friday and held...
Total is ADNOC’s largest and one of its longest international partners, active in Abu Dhabi’s oil and gas sector since 1939.
Abu Dhabi National Oil Company said on Sunday it has signed 40...
Ardakanian Attends World Water Forum
Energy Minister Reza Ardakanian left Tehran for Brasilia,...
South Zagros Company has exceeded its daily production target by 2.5 million cubic meters.
South Zagros Oil and Gas Production Company, a subsidiary of...

Add new comment

Read our comment policy before posting your viewpoints