German company will engage in seeking hydrocarbons in Africa

The German company Wintershall Dea and the Egyptian state gas company EGAS have signed an agreement on geological exploration for oil and gas at one of the land sites in the Nile Delta. This is reported by NefteRynok.

The volume of investments will be $43 million.

“The signed agreement is the first agreement between Egypt and the German company after the merger of Wintershall and Dea”, said Oil Minister Tarek al-Mulla regarding the signing of the document, noting that the history of cooperation with Wintershall lasts more than 45 years.

The Minister also noted that Wintershall Dea achieved high results in oil and gas production in the regions of its presence in Egypt: in the Gulf of Suez, the Nile Delta, on the shelf of the Mediterranean Sea.

The Egyptian ministry has signed 61 agreements with investors to drill 230 wells for a total of about $6 billion over 4 years.

Earlier it was reported that a solar farm that would generate electricity for gold mining would be built in Egypt.

Tags: gas, contracts, oil, hydrocarbon production, legislation, EU, energy market, gas production, gas transit, добыча нефти, drilling, Oil refinery plant, foreign affairs, oil transit, investors, Germany, agreement, field

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