Egypt to launch first oil drilling auction in Red Sea before 2018-end

PHOTO

Cairo: Egypt will launch its first auction for oil and gas drilling in the Red Sea before the end of this year, its oil minister Tarek el-Molla said on Monday.

Egypt plans to speed up production from recently discovered fields, with an eye to halting imports by 2019 and achieving self-sufficiency.

Source: Amwal AlGhad

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.