Egypt’s Petroleum Minister Says Wider Exploration Key to Raising Domestic Output

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, said expanding the geographical scope of oil and gas exploration is a central pillar of efforts to increase domestic production.

Badawi witnessed the signing of a new agreement covering the search for and exploitation of natural gas and crude oil in the offshore Lotus area in the Mediterranean.

The agreement brings the Mediterranean block into focus as Egypt pursues wider exploration activity to support local energy output.

The available details did not identify all parties to the agreement or specify its financial terms, work programme or timetable.