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FINANCIAL NEWS
Total wins gas exploration license in Egypt
30 Sep 2014
(MENAFN) Total, the French oil company, announced it has been awarded a license to explore for natural gas in the Nile Delta, Gulf News reported.
The deal was won after both Egypt’s General Petroleum Corporation (EGPC) and Natural Gas Holding Company (EGAS) announced an international auction for oil and gas exploration concessions in accordance with production sharing agreements last December.
These concessions are set for areas in the Suez Canal, Egypt’s western desert, the Mediterranean Sea and the Nile Delta.
In addition to Total, several other companies won concessions in the Mediterranean Sea and the Nile Delta including UAE’s Dana Gas, BP, Eni, Petroceltic and Edison.
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