ExxonMobil signed two new agreements to search for oil and natural gas in the Mediterranean region with EGAS company, with a minimum investment of 332 million dollars and a signature bonus of $17 million dollars for 7 exploration wells.
The first agreement for Block 3 (North East El Amriya Offshore) with a minimum investment of $ 220 million, a signature bonus of $ 10 million for drilling 4 wells.
The second agreement in the Markia Maritime region on the Mediterranean with a minimum investment of $ 112 million, and a signature bonus of $ 7 million for drilling 3 wells.
ExxonMobil has been a partner in Egypt’s growth for more than 115 years, and these awards reaffirm our commitment to pursuing high-quality opportunities in the country,” said Hesham Elamroussy, chairman and managing director of ExxonMobil Egypt.