A third agreement, worth $109 million, went to Arcius Energy, a joint venture 51 per cent owned by BP and 49 per cent by ADNOC’s investment arm XRG, to operate in the North Damietta offshore area.
The ministry also announced a $14 million deal with Russia’s Zarubezhneft to drill four wells in the onshore North El-Khatatba block in the Nile Delta.
(Reporting by Hatem Maher, Writing by Muhammad Al Gebaly; Editing by Bernadette Baum)