Egypt signed 64 oil and gas deals in two years and half: minister

To date, Egypt has signed around 64 oil and gas exploration agreements worth $14.3 billion with international petroleum giants since November 2013, said the country’s oil minister Tarek el-Molla on Wednesday.

One of those agreements had resulted in the biggest ever gas discovery in the Mediterranean in August 2015, after signing a deal with Italy’s Eni earlier in January 2014, the Egyptian minister added.

Minister el-Molla made his remarks during Offshore Technology Conference (OTC), which is currently running in Houston between May 2 and 5 May.

The minister also tackled the developments witnessed by the Egyptian petroleum sector over the past five years, saying the sector achieved significant successes following the 30 June revolt, ending three years of turbulence.