Cairo – Mubasher: A host of investors and global oil companies are expected to enter into agreements with the Egyptian government for gas and oil explorations in the Red Sea area during 2019.
Seismic reflection of the area was conducted and the required approvals were completed, Egypt's petroleum minister Tarek El-Molla said on Thursday.
The ministry will launch the first international bid for hydrocarbon exploration in such a promising area within the coming period, the minister added.
El-Molla noted that explorations in the Red Sea area were not possible before the signing of the Maritime Boundaries Treaty with Saudi Arabia.
