Egypt attracts US $1 Bn spend with nine new block awards

摘要

Egypt has once again bucked the trend and signed nine new licensing agreements, mostly with majors, for offshore blocks with a committed spend of around US $1 Bn. Chevron took three of the blocks while ExxonMobil took two. Egypt's South Valley Egyptian Petroleum also took two blocks while Total and BP took one each. Another three blocks are under negotiation.