Marine Link
Friday, August 17, 2018

Egypt Approves Oil Exploration Deal with Eni, Tharwa

Maritime Activity Reports, Inc.

May 9, 2018

© Igor Shkvara / Adobe Stock

© Igor Shkvara / Adobe Stock

Egypt has approved an exploration agreement with Italy's Eni and the Egyptian Tharwa company to search for oil and gas in the Mediterranean off the coast of northern Sinai, the Egyptian oil minister said on Wednesday.

Under the deal, Eni and Tharwa will spend $105 million in two stages over six years, which involve drilling one well in the first stage and another in the second, Tarek El Molla told journalists.


Reporting by Momen Saeed Atallah, writing by Sami Aboudi

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News