ExxonMobil Egypt signed a Farm-Out Agreement (FOA) with BG International Limited, a Shell plc subsidiary, to acquire 100 percent ownership in the ExxonMobil-operated north-eastern El-Amriya Offshore Area in the Mediterranean Sea, also known as Block 3. According to the agreement, BG will become the operator, pending to regulatory permissions from the Egyptian government.
Minister of Petroleum and Mineral Resources Tarek El-Molla said the agreement is a significant development that illustrates Egypt's oil and gas sector's vitality and competitiveness.
Commenting on the conclusion of this agreement, H.E. Minister of Petroleum and Mineral Resources...
Tusaiwe Munkhondiya, a 23-year-old woman, runs three schools, an orphanage and fosters over 30 children.
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