Egyptian President Approves $2.2 bln O&G Exploration Contracts

Egypt's president Abdel Fattah al-Sisi approved six new oil and gas exploration contracts for investments worth at least $2.2 billion, the Oil Ministry said in a statement on Tuesday.

The agreements include the search for oil and gas in the Mediterranean, Nile Delta, Western Desert and the Gulf of Suez.

The deals were initially mooted at an investment conference in Sharm El Sheikh earlier this year.
 
 

(Reporting by Nadia El-Gowely; Writing by Asma Alsharif)