A year after initial awards were first announced, minister of petroleum and mineral resources Tarek El-Molla has signed oil and gas exploration agreements with six major IOCs and their Egyptian partner Tharwa Petroleum. Seven of the agreements involving Egyptian Natural Gas Holding Company (Egas) are for offshore areas in the Mediterranean, while two are with South Valley Egyptian Petroleum Holding Company (Ganope) covering areas in the Red Sea. The ministry has said it expects to sign three more agreements soon.
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