Total, Eni’s Egyptian subsidiary IEOC, and BP have commenced a gas and oil exploration program in the North El Hammad block, located in the conventional offshore of the Mediterranean Sea. The program aims to explore more fields in the area in order to increase Egypt’s oil and natural gas domestic.
Natural gas and oil exploration programs implemented by international companies encourage foreign investments in the sector, stated the Egyptian Minister of Petroleum Tarek El Molla during his meeting with Total E&P Egypt’s Managing Director Jean-Pascal Clémençon and Elias Kassis Vice President of North Africa Region.
El Molla added that the projects increase Egypt’s reserves and resources of gas in the coming era.
Egyptian Ministry of Petroleum signed three deals on exploration and production of oil and gas in December last year with France’s Total, Britain’s BP, and Italian oil major Eni’s Egyptian subsidiary IEOC.
(Source: Amwal Al Ghad)