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Egypt awards oil and gas exploration concessions in Red Sea – statement

December 29, 2019

CAIRO (Reuters) – Egypt said on Sunday that it awarded oil and gas exploration concessions in the Red Sea to Chevron (CVX.N), Royal Dutch Shell (RDSa.L) and Mubadala MUDEV.UL in an international tender.

Chevron was awarded the first block, Shell a second block, and a third block was awarded jointly to Shell and Mubadala with a total exploration area of around 10,000 square km (3,860 square miles) and with a minimum investment of $326 million, the petroleum ministry said in a statement.

Reporting by Ehab Farouk; writing by Nadine Awadalla; editing by Richard Pullin


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