Shell Egypt signs contracts for west Mediterranean concession

Drilling works in west Mediterranean will begin during the second exploratory phase

  
Image used for illustrative purpose. A man works on the rig of an oil drilling pump site in McKenzie County outside of Williston, North Dakota March 12, 2013.

Image used for illustrative purpose. A man works on the rig of an oil drilling pump site in McKenzie County outside of Williston, North Dakota March 12, 2013.

REUTERS/Shannon Stapleton
 

The Egyptian petroleum ministry signed two agreements with Shell Egypt for 6,477-kilometer blocks in Herodotus basin in west Mediterranean, according to a March 22nd emailed press release.

Drilling works in west Mediterranean will begin during the second exploratory phase, which will last for three years.

Shell acquires 63% of the works, being the main operator.

Earlier this year, Royal Dutch Shell penned production sharing contracts with the Ministry of Petroleum and Mineral Resources for concession areas in the Red Sea and the Mediterranean.

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