The Egyptian Petroleum Ministry announced it has signed 15 oil and gas search agreements worth $14.3 billion with foreign companies during the fiscal year 2015-2016, Youm7 reported on Tuesday.
The agreements enhanced research and exploration to discover new reserves, increase productivity rates and complete exploration and developmental projects in the other areas, Petroleum Minister Tarek al Mulla was quoted by Youm7.
During the Egypt Economic Development Conference that was held in March last year, Egypt signed five oil and gas agreements worth $21.2 billion.
