Petroleum minister signs deal for oil exploration in Gulf of Suez
Minister Tareq qabeel
Cairo - MENA
Petroleum Minister Tareq el Molla signed on Sunday a deal with two Egyptian petroleum companies for oil exploration in the Gulf of Suez with total investments of 4.5 million dollars.
Under this deal, six oilfields will be dug on an area of 191 kilometers in the Gulf of Suez.
The deal comes as part of strenuous efforts exerted by the government to pump more investments into the petroleum field to meets the needs of the domestic market.
Since November 2013, 64 deals have been signed to explore oil in Egypt with total investments of 14.3 billion dollars.
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