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

Aquaterra Energy Gets Multi-Year Well Intervention Job off Spain

Shell Reserve Decline Raises Need for Deals or Discoveries

Libya Targets Higher Gas Output to Supply Europe by 2030

Current News

Petrobras’ P-79 FPSO Arrives to Brazil to Support Búzios Growth Plan

North Sea Wildcat Well Fails to Deliver for Vår Energi

TotalEnergies Asks EU to Clarify Russian LNG Ban

Norway Oil and Gas Investment Expected to Drop in 2026

Subscribe for OE Digital E‑News