Egypt awards eight oil and gas contracts
In Egypt, the Egyptian Natural Gas Holding Co. has awarded contracts in eight oil and gas prospection projects for a total minimum investment of US$1.2bn off its Mediterranean coast
A statement from the Ministry of Petroleum said the awards were the result of an international tender which received 13 offers from domestic and foreign companies.
The ministry added that the winning companies would pay US$73.2mn for the licences.
The firms include BP, Petroceltic International,Eni SpA, Edison, Sea Dragon, Dana Gas, IEOC, a subsidiary of Eni group and Pura Vida Energy.