Egypt signs $42mn gas exploration deal with Cheiron for East Alexandria offshore block

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Egypt has signed a gas exploration agreement with Cheiron for the East Alexandria Offshore block in the Mediterranean. The company has committed to invest more than $42 million in exploration, including drilling, under an agreement with state-owned EGAS.

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi oversaw the signing of a new agreement to explore for natural gas in the East Alexandria Offshore area of the Mediterranean, between the state-owned Egyptian Natural Gas Holding Company (EGAS) and Cheiron. The deal commits Cheiron to a minimum investment of more than $42mn to drill […]