Is Egyptian Oil Set For A Rebound?

This week Egypt signed three major exploration deals with oil
giants Royal Dutch Shell and Apex worth at least $81.4 million. The
hefty international contracts will kickstart a large-scale oil and
gas exploration in 16 new fields in the oil-rich Western Desert. In
a statement released by the Petroleum Ministry, it was announced
that Shell will be investing $35.5 million in a single deal, while
U.S.-based Apex has signed two different deals totalling $45.9
million, a hefty investment for their first ever projects in Egypt.
The deals collectively…

This week Egypt signed three major exploration deals with oil
giants Royal Dutch Shell and Apex worth at least $81.4 million. The
hefty international contracts will kickstart a large-scale oil and
gas exploration in 16 new fields in the oil-rich Western Desert. In
a statement released by the Petroleum Ministry, it was announced
that Shell will be investing $35.5 million in a single deal, while
U.S.-based Apex has signed two different deals totalling $45.9
million, a hefty investment for their first ever projects in Egypt.
The deals collectively…