The five supermajors have been slashing capital spending and exploration commitments worldwide (MEES, 8 January). But not in Egypt.
This week Egypt’s state gas firm Egas confirmed the award of seven key gas-prone blocks in the country’s offshore Mediterranean, including five in the unexplored Herodotous basin west of Alexandria. All went to the five supermajors. As did two further blocks in the Herodotous ‘West Med’ region which were awarded to Shell last September. (CONTINUED - 1119 WORDS)