ArabFinance: Wintershall Dea signed an agreement with oil and gas firms Cheiron and INA for joint exploration rights at Egypts east Damanhour onshore concession, according to a press release.

The exploration program will have up to seven wells drilled at east Damanhour over the coming years. The concession was originally signed between the Egyptian Natural Gas Company (EGAS) and Wintershall, as contractor, on February 10th 2020.

Egypt-based Cheiron will hold a 40% working interest of the contractors share, while the Croatian INA will acquire 20%. Wintershall will remain operator of the concession with a working interest of 40% of the contractors share.

The new partners for the exploration of east Damanhour block will contribute financially and with technical expertise.

Earlier this year, the Egyptian Minister of Petroleum and Mineral Resources Tarek el Molla signed nine contracts to search for oil and natural gas in the Mediterranean and the Red Sea concession areas.

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