Egypt awards oil, gas prospection contracts

April 16, 2013 11:43

CAIRO - Egypt said on Tuesday it awarded contracts for a minimum investment of $1.2 billion in eight oil and gas prospection projects in the Mediterranean Sea off its northern coast.

A statement from the ministry of petroleum said the awards were the result of an international tender which received 13 offers from domestic and foreign companies.The firms, including BP, Petroceltic International , Edison, Sea Dragon, Dana Gas and Pura Vida Energy, would pay $73.2 million for the licenses.

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