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2026-11-09T17:10:04.000Z

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Egypt Signs $42M Gas Deal

Egypt Signs $42M Gas Deal

Egyptian Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of an agreement between EGAS and Cheiron to explore for natural gas in the East Alexandria offshore area of the Mediterranean, with minimum investments of more than $42 million. The agreement includes drilling three exploratory wells and reprocessing seismic data to assess the area’s potential and support the discovery of additional gas resources.

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