A trio of offshore oil and gas exploration and production deals worth a total of at least $220million have been signed by Egypt’s Oil Minister with Total, BP and Eni.
The Ministry said the deals include for six wells and a signing bonus of $9million.
They are the result of a tender called by Egyptian state gas board EGAS.
They are all in exploration blocks in the Egyptian Mediterranean Sea.
The first deal is with a consortium of BP and IEOC and is worth $75million.
Meanwhile the second is a consortium with all three companies and is worth $80million.
The third contract is with BP alone and is in the North Tabia block. It is worth $65million.