Egypt has signed two deals with Exxon Mobil Corp for oil and gas exploration in the Mediterranean, the petroleum ministry said.
The deals involve a minimum investment of $332 million, the ministry said in a statement. Exxon Mobil announced the acquisition of more than 1.7 million acres last month.
The first agreement is for exploration in the North East Amriya block, with a minimum investment of $220 million, the ministry said. The second is for the North Marakia block, with a minimum investment of $112 million.
The ministry said the Exxon Mobil agreements bring the total number of deals with investors to 82 since 2014, with a total minimum investment of about $16 billion for the drilling of 340 wells.