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Egypt signs shale gas deal with Apache and Shell

by ChemOrbis Editorial Team - content@chemorbis.com
  • 19/12/2014 (16:34)
According to media reports, Egypt has signed its first shale gas extraction deal with Shell Egypt and Apache on December 17. The investment value was reported at between $30-$40million.

Under the country’s first deal for shale production, three wells are planned to be drilled in the Abu al-Ghardeeq region of the Western Desert. Egypt aims to find new energy sources to cope with declining gas production in the face of rising demand.

In November, Egypt signed an agreement with Norway’s Hoegh LNG to build a LNG import terminal by the end of March.
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