Apache Corp, Dana Petroleum and Merlon International will explore for oil in Egypt’s western desert under deals signed with the government, state news agency MENA reported.
Apache and Dana will drill five exploratory wells in the region east of Beni Suwais in collaboration with the Egyptian General Petroleum Corporation under a deal worth at least USD12.5 million, with a signature bonus of USD6 million, the agency said.
Merlon International will drill six wells in Fayoum region for an exploration cost of at least USD24 million and a signature bonus of USD3 million.
Under a third deal, Ganoub El Wadi Holding becomes the first company to search for oil in the Big Gulf region in the southwest desert, drilling two exploratory wells under a deal worth at least USD8 million, MENA said.
