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Egyptian oil, gas prospection contracts awarded
- Egypt: Wednesday, April 17 - 2013 at 06:04
Egyptian petroleum ministry has awarded contracts for a minimum investment of $1.2bn in eight oil and gas prospection projects in the Mediterranean Sea off its northern coast, Reuters has reported. The awards were the result of an international tender which received 13 offers from domestic and foreign companies. The ministry said the winning companies will pay $73.2m for the licences. The firms include BP, Petroceltic International, Edison, Sea Dragon, Dana Gas, IEOC, a subsidiary of Italian oil major ENI and Pura Vida Energy.
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