Egypt is doing its best to entice companies to step up drilling for gas, but to little avail. In its latest bid to generate momentum the Ministry of Petroleum has signed “a new agreement with incentive terms” with European majors Eni (50%) and BP (50%) for their offshore Temsah concession.
“The agreement includes drilling an exploration well in the Temsah concession area in the coming months, as part of efforts to advance natural gas exploration plans and boost the potential for new discoveries,” Egypt’s Ministry of Petroleum stated on 31 July. (CONTINUED – 1025 WORDS)
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