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Prospection of gold, oil and gas approved with new agreements

Wednesday 23 May 2007

Source: ANSAmed - CAIRO, MAY 23

Chapeau: The Egyptian Shura Council (Senate) has approved 21 agreements worth USD1.5 billion for gold, oil and gas digging in various parts of the country.

Texte: Six deals have been struck between the Egyptian General Authority for Mineral Wealth and companies from Canada, Russia and Cyprus for prospecting of gold and other mineral resources in the western and eastern deserts. Nine new agreements have been concluded between the Egyptian holding company for natural gas and companies from Italy, Uruguay, Thailand, India, Barbados, Austria, Britain, Germany, Norway, Algeria and an Egyptian company in Sidi Abdel-Rahman el-Bahari area and other areas near al Arish and the Delta town of Tanta. Egypt, one of the world\’s top ten exports of liquefied gas, has doubled its natural gas reserves in the last five years. Egyptian Oil Minister Sameh Fahmy has recently said the country plans to increase its oil output to 800,000 bpd in 2008.

See online : http://www.ansamed.info/en/news/ME02.@AM11485.html


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