Zarubezhneft Won a Tender for Gas and Oil Exploration in Egypt
The country’s authorities announced the results of a tender for the search and development of oil and gas fields in the Mediterranean and Nile Delta regions
The Russian oil and gas company Zarubezhneft won the tender for oil and gas exploration announced earlier by the Egyptian Ministry of Petroleum and Mineral Resources. The Egyptian department reported this.
“The ministry announced the results of a tender for the search and development of oil and gas fields in the Mediterranean and Nile Delta regions, which closed in mid-July this year,” the department said in a statement quoted by the Amwal al-Ghad portal. It is noted that one of the four areas put up for tender “was allocated to the Russian company Zarubezhneft.”
The site in which the Russian company will be involved in the development, as indicated by the Egyptian Ministry of Oil, is located in the Nile River Delta. Three other sites, located in the Mediterranean, will be developed by the Italian Eni, one of them jointly with the British BP and the Qatari Qatar Energy.
As explained by the Egyptian Ministry, the minimum investment during the exploration period is estimated at approximately $281 million for drilling at least 12 wells.
