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EGPC announces eight zones for oil exploration
Egypt, Economics, 7/24/2002
The Egyptian General Petroleum Corporation (EGPC) has announced the offer of eight new zones for the private sector and multinational oil and gas companies.
This raises the total number of drilling zones to 38, which account for 12 per cent of the country's total area, Petroleum Minister Sameh Fahmy said following a meeting with geologists and senior officials.
The program to promote the zones internationally was discussed during the meeting, in view of a cutthroat competition in the Middle East to attract foreign investment in exploration and drilling.
Previous Stories:
Egyptian-Libyan oil, gas company's inaugural assembly
(7/22/2002)
Islamic Development Bank offers $ 270 million to finance oil, river transport
(7/15/2002)
New Canadian oil investments in Egypt
(7/11/2002)
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