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Egypt strikes trio of oil and gas exploration deals worth $220m with BP, Total and Eni

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A trio of offshore oil and gas exploration and production deals worth a total of at least $220million have been signed by Egypt’s Oil Minister with Total, BP and Eni.

The Ministry said the deals include for six wells and a signing bonus of $9million.

They are the result of a tender called by Egyptian state gas board EGAS.

They are all in exploration blocks in the Egyptian Mediterranean Sea.

The first deal is with a consortium of BP and IEOC and is worth $75million.

Meanwhile the second is a consortium with all three companies and is worth $80million.

The third contract is with BP alone and is in the North Tabia block. It is worth $65million.

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