Egypt: British Investments for East of Gabal El-Zeit Area

Petroleum Minister Sherif Ismail inked yesterday a new petroleum agreement between Ganoub El-Wadi Petroleum Holding Company and a British petroleum company in Gabal El-Zeit area, the Gulf of Suez.

The agreement stipulates pumping investments of not less than $9.5 million and digging two wells on two prospecting periods, each period hits three years.

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