Egypt has signed oil and gas search deals with Apache Corporation worth US$44mn in Western Sahara
According to a statement from the Egypt’s Ministry, the drilling in the Western Sahara will also include US$25mn in state grants with Apache Corporation expected to drill 11 new wells.
Seven well are expected to be drilled at Ras Knaess with a total investment of US$28mn Siwa will see the drilling of four wells worth US$16mn, it added.
Sharif Ismail, oil minister of Egypt, said, “Thirty five exploration deals were signed since October 2013, with an estimated investment value of US$2bn and grants of US$242mn to drill 149 wells.”
