Egypt agrees with 5 companies to explore for oil and gas in the western Mediterranean early 2021
Economy News - Baghdad
Egyptian Minister of Petroleum Tariq Al-Mulla said in statements to Sky News Arabia that his country has agreed in principle with five international companies to explore for oil and gas in the western Mediterranean in deep waters in seven regions.
Al Mulla added that the companies that will start exploratory searches in the western Mediterranean beginning in 2021 are Total, BP, Chevron and ExxonMobil, and that this will be the first time to work in this region.
The Italian Eni discovery of the back field in 2015, which contains reserves of thirty trillion cubic feet of gas, opened the government's appetite for new auctions.
During the past few years, Egypt has demarcated its maritime borders with some countries in order to explore for oil and gas without conflicts.