20 Agreements on Prospecting for Oil, Gas to be SignedSource: www.export-egypt.com 11/11/2014, Location: Africa |
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Petroleum Minister Sherif Ismail asserted on Monday 10/11/2014 that strategies are currently being devised for filling the gap between supply and demand over five years.
This will be realized by means of importing gas and accelerating the paying of foreign partners' dues, as $3 billion of these dues had been paid off last September and December, he said. This will also take place through inking new agreement on prospecting for oil and natural gas, as 36 new agreements had been inked since November 2013 at investments hitting about $2 billion for digging 153 new wells. He also referred to other 20 agreements to the tune of $10 billion that would be reached after the completion of the required procedures. |
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