Egypt Awards Red Sea Acreage

Monday, December 30, 2019

Egypt said on Sunday that it awarded oil and gas exploration concessions in the Red Sea to Chevron, Royal Dutch Shell and Mubadala in an international tender.

Chevron was awarded the first block, Shell a second block, and a third block was awarded jointly to Shell and Mubadala with a total exploration area of around 10,000 square km (3,860 square miles) and with a minimum investment of $326 million, the petroleum ministry said in a statement.


(Reporting by Ehab Farouk; writing by Nadine Awadalla; editing by Richard Pullin)

Categories: Natural Gas Africa

Related Stories

EIA: US Crude, Gasoline Inventories Rise

Vestdavit Supplies Davits for Ulstein Newbuild CSOV

FPSO Petrojarl Enters Decom Phase as FPSO Atlanta Readies to Take Over

Current News

Danos Leaders Recognized in “40 Under 40” Lists

ExxonMobil to Drill for Gas Off Cyprus in January

Mocean Energy Raising Funds to Advance Wave Energy Tech

Seadrill’s Drillships Getting Ready to Start Work Off Brazil

Subscribe for OE Digital E‑News