Untitled Document
Excon, Excon 2011 Biggest Construction Equipment Trade fair India.
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www.epcworld.in
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Global Brief |
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7/18/2009 1:57:00 PM |
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Cairo, August (EPC News): Egypt has signed agreements for oil and natural gas exploration
that are expected to bring in new investments of $2.3 billion, an official at the
Oil Ministry said. |
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"Of the total, five are extensions and amendments to already existing deals
and one is a completely new deal," the official said.
The deals were signed with BP PLc, IEOC, a unit of Italy`s Eni and Egyptian firm
Tharwa on Sunday for exploration in the Eastern Desert, Nile Delta, Gulf of Suez
and North Sinai. The agreements include an exploration deal signed between the state-owned
Egyptian General Petroleum Corporation and BP and IEOC worth $1.1 billion and another
signed between the same three partners worth $900 million.
The new deal, with Tharwa, is for exploration over an area of 43 sq km in the Eastern
Desert, together with Ganoub el-Wadi Petroleum Holding Company, and is worth $17.5
million.
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