Egypt Inks 6 O&G Exploration Agreements for $2.3B

Egypt's Oil Ministry confirmed Sunday that it has signed exploration agreements with three oil and gas companies totaling $2.3 billion, according to a report by Dow Jones Newswires.

A ministry spokesman told Zawya Dow Jones that the six exploration deals were awarded to BP, IEOC, a unit of Italy's Eni, and Tharwa Petroleum Co.

The areas targeted in the exploration agreements comprise the Nile Delta, the Eastern Desert and the Gulf of Suez, the report noted.