CAIRO (Reuters) – Egypt has signed a deep-water oil and gas exploration deal with Royal Dutch Shell (AS:) and Malaysia’s Petronas (KL:) worth around $1 billion for 8 wells in the country’s West Nile Delta, the petroleum ministry said on Saturday.
The country also signed a second $10 million deal with Rockhopper (L:), Kuwait Energy
Egypt aims to be a regional hub for the trade of liquefied (LNG) after a string of major discoveries in recent years including Zohr, which holds an estimated 30 trillion cubic feet of gas.
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