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Egypt

Egypt signs $121m oil, gas exploration agreements

Egypt has signed three exploration agreements worth over $121 million with Parenco Egypt, Dragon Oil and Apache to drill new wells.

Egypt is open to cooperation with all international companies, including American ones: minister.

According to the ministry, the initiative is aimed at protecting animal health, stabilizing production costs and the country’s food security.

The gold, seized in legal cases and refined at the prosecution’s expense, will be added to the Central Bank of Egypt’s (CBE) stockpile.

Energean, through Energean Egypt, maintains and operates a full-cycle production, development, and exploration portfolio.

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