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Monday, September 15, 2025 23:9 GMT
Egypt signed three investment agreements worth more than US$121 million for oil and gas exploration in the Western desert, Suez Gulf and north of Sinai, the Egyptian petroleum ministry said on Sunday. The deals were with Parenco Egypt, Dubai-based Dragon Oil and Apache, for about US$46 million, US$40.5 million and US$35 million respectively. The first deal aims to re-award the North Sinai offshore area to Parenco Egypt, with investments to drill three wells. Parenco Egypt is a subsidiary of...More