Edison has signed a $86 million agreement with state-run Egypt Natural Gas Holding (EGAS) for natural gas and oil exploration in the Mediterranean, the Egyptian Petroleum Ministry said on Jan. 5.
The Egyptian government has been on a drive to lure back foreign investors to its energy sector in an effort to address a squeeze on public finances and reduce its reliance on energy imports.
(Reporting by Lin Noueihed and Eric Knecht; Writing by Asma Alsharif; Editing by Susan Fenton) ((email@example.com; +20225783290; Reuters Messaging: firstname.lastname@example.org))
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