Cairo – Mubasher: The Egyptian minister of petroleum and mineral resources Tarek El-Molla signed a new agreement for oil and gas exploration and production with the Egyptian Natural Gas Holding Company (EGAS) and Germany's Wintershall Dea.
The deal includes the drilling of eight wells in East Damanhour with minimum investments of $43 million and a signature bonus of $11 million, according to a statement on Monday.
The signing brings the total number of oil and gas agreements signed between the Egyptian government and investors and partners to 61 with minimum investments of about $6 billion for the drilling of 230 wells for the last four years.
