EGPC announces eight zones for oil exploration

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.