The Italian player won a 37.5% participating interest and operatorship in the North El Hammad licence, where it partners with UK supermajor BP (37.5%) and French giant Total (25%).
The company was also awarded a 50% participating interest in the North Ras El Esh licence, where its sole partner is BP (50%), which will act as operator.
The companies are expected to make total investments of at least $306 million in the newly awarded concessions, including seismic surveys and drilling of eight exploration wells,according to a statement from state-run Egyptian Natural Gas Company (Egas), cited by Reuters last week.
The
