The Egyptian cabinet approved on Wednesday five petroleum projects with international companies worth $225.3m (R4.19bn) and would include the drilling of at least 40 wells, according to a cabinet statement.
Egypt has been grappling with dwindling energy supplies that caused persistent power cuts last year and hopes to increase natural gas production to cover the shortage.
Egypt approves five petroleum projects worth more than R4bn, cabinet says
Image: 123rf.com
The Egyptian cabinet approved on Wednesday five petroleum projects with international companies worth $225.3m (R4.19bn) and would include the drilling of at least 40 wells, according to a cabinet statement.
Egypt has been grappling with dwindling energy supplies that caused persistent power cuts last year and hopes to increase natural gas production to cover the shortage.
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