First petroleum well to be dug in South Valley, Egypt

Egypt's Minister of Petroleum Sameh Fahmi said that it was decided to start wildcating first discovery well at South Valley area, following completing seismic and geological researches.

Fahmi said that the petroleum sector put up 12 areas for the first time in an international bids before oil companies to prospect for oil and natural gas in South Valley area.

Three agreements were signed with the offered companies, Fahmi said. The first and second agreements which were signed with two Canadian companies cover an area of 53 square kilometers.

The third agreement was signed with a British company.

The Minister said that the oil sector prepared a program to provide natural gas for Assuit and Sohag governorates.