Categories: AFRICABusiness

Egypt’s Petroleum Corporation Signs $1bn Oil-Exploration Agreement with Eni

Egyptian General Petroleum Corporation (EGPC) has signed an agreement with Italian energy group Eni (ENI.MI) for oil exploration in the Gulf of Suez and Nile Delta regions worth “not less than $1 billion” of investments, the petroleum ministry said on Friday.

The agreement also included a commitment from Eni to additionally spend “not less than $20 million” to drill 4 wells, the ministry added in a statement.

Follow us on:

AriseNews

Recent Posts

Victor Okhai: Trump’s Presidency Could Be a Game-Changer, Cause Nigeria To Look Inward And Break Free From Foreign Aid Dependency

Victor Okhai has argued that Trump’s presidency could encourage Nigeria to reduce foreign aid reliance…

46 mins ago

Equatorial Guinea Suspends Officials Involved In Sexual Misconduct In Government Offices

Equatorial Guinea's VP has announced the suspension of officials involved in sexual misconduct within government…

52 mins ago

IGP Egbetokun Orders Investigation Into Treatment Of Minors In Police Detention

Following outrage over the arraignment of minors, IGP Egbetokun has directed a probe into minors’…

1 hour ago

Voting Begins in US Presidential Election As Trump And Harris Face Off

Americans are headed to the polls to choose the next president in a tightly contested…

3 hours ago

Court Dismisses Case Against Protesters Charged Over Protests, Releases Minors Charged With Treason

An Abuja court has struck out the case against #EndBadGovernance protesters as the AGF discontinued…

4 hours ago

Britain Detects Two Additional Cases Of New Mpox Variant, Total Reaches Three

The UK has confirmed two more cases of the new mpox variant, clade Ib

5 hours ago