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Egypt signs agreements for oil and gas exploration in the Mediterranean and Red Sea
3 January 2021
Egyptian Minister of Petroleum Tarek El-Molla said that the ministry reached a total of 12 agreements during the period of the coronavirus pandemic, with a minimum investment of about $1.4 billion, to drill 23 wells in nine regions in the Mediterranean and three regions in the Red Sea, pointing out that three further agreements are to be signed soon.