Egyptian Oil Minister Sameh Fahmy signed five oil and gas deals or concession amendments with companies from the United States, Australia, Japan, Britain and India, the Oil Ministry said in a statement on Monday.
The deals covered concessions in the Gulf of Suez and the Western Desert and included obligations by the energy firms to spend at least $109.5 million and to dig 23 wells. The signature bonuses, or fees for signing, were worth about $3.85 million.
THE FIVE DEALS WERE AS FOLLOWS:
-- An exploration and production deal in the Western Desert area between state-owned Egyptian General Petroleum Corp (EGPC) and Japan's Teikoku Oil Co, Devon Energy of the United States and Australia's Santos Ltd.
-- An exploration and production deal in the Gulf of Suez area between EGPC, a US firm and India's ONGC Videsh.
-- An exploration and production deal in the Gulf of Suez area between EGPC and Japan's Teikoku Oil Co and a US firm.
-- An amendment to an exploration and production deal in the Western Desert area between EGPC and a US firm.
-- An agreement for exploration and production deal in the Gulf of Suez area between Ganoub El-Wadi Holding Petroleum Company (GANOPE) and Britain's Burren Energy Plc.
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