Cairo – Mubahser: Italian Edison signed an agreement with the Egyptian Natural Gas Holding Company (EGAS) for natural gas exploration works at a region in the North East of the Mediterranean Sea, said Tarek El-Molla, Minister of Petroleum and Mineral Resources
The agreement involves injecting investments with a minimum level of $86 million, in addition to a grant of $1.5 million to drill two additional wells.
Earlier, Edison said it seeks to sell part of its Abu Qir field in Egypt and has opened the books to prospective buyers including Kuwait's KUFPEC.
