Shell, Eni, Exxon Mobil, BP Win Concessions in Egypt's Energy Exploration Tender

Shutterstock photo

Royal Dutch Shell ( RDS.A ), Eni ( E ), BP ( BP ) and Exxon Mobil ( XOM ) secured concessions in Egypt's lucrative energy exploration tender, Reuters reported.

The tender, which was issued by Egyptian Natural Gas Holding Corp., was the largest in its history and marked the first time Exxon participated in an exploration project in Egypt, according to the report. Shell won the most number of concessions, three for oil and two for gas.

Seven oil exploration concessions in which 39 wells will be drilled were awarded to Neptune Energy, Merlon, Shell, Eni and state-controlled Egyptian General Petroleum Corp. Five gas exploration concessions, in which 20 wells will be drilled, were awarded to Shell, Exxon, Petronas, BP, DEA and Eni, Reuters said.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , ETFs
Referenced Symbols: E , BP , XOM , RDS.A

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?