An oil platform at the Gulf of Suez
Egypt signs oil exploration deals with foreign firms
Egypt's oil ministry signs five deals with several unnamed foreign firms for oil exploration in the Western Desert and Gulf of Suez, with investments of $221 million.
Wednesday 14/05/2025
An oil platform at the Gulf of Suez
CAIRO - Egypt's oil ministry on Wednesday signed five deals with several unnamed foreign firms for oil exploration in the Western Desert and Gulf of Suez, the country's cabinet said.
The value of the investments for the agreements, which also include gas and crude oil exploration in North Damietta in the Mediterranean Sea, are estimated at a minimum of $221.23 million, it said.