Egypt Awards Oil and Gas Exploration Concessions in Red Sea - Statement

Source Reuters
Company Royal Dutch ShellChevron CorporationMamoura Diversified Global Holding PJSC 
Tags Licensing Rounds, Deals, Upstream Activities
Date December 29, 2019

Egypt said on Sunday that it awarded oil and gas exploration concessions in the Red Sea to Chevron, Royal Dutch Shell and Mubadala in an international tender.

Chevron was awarded the first block, Shell a second block, and a third block was awarded jointly to Shell and Mubadala with a total exploration area of around 10,000 square km (3,860 square miles) and with a minimum investment of $326 million, the petroleum ministry said in a statement.

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