CAIRO, Dec 25 (NNN-MENA) – Egyptian General Petroleum Corporation, signed an investment agreement with Italian energy group, Eni, for oil exploration in the Gulf of Suez and the Nile Delta regions, which is worth no fewer than one billion U.S. dollars, the Egyptian Petroleum Ministry said, yesterday.
The deal is part of the ministry’s strategy, to increase productivity and to face the natural decline in the wells, by using the latest technologies, in oil-producing sectors, the ministry said.
“The ministry’s strategy also aims at encouraging partners, to pump more investments into oil and gas exploration, and to boost the country’s oil reserves,” it added.– NNN-MENA
