Apex International awards contract to start oil and gas exploration in North AfricaMonday, 28 May 2018 06:51This is line with Apex’s aim to explore more oilfields in the region. The two concession agreements consist of 1.7mn acres encompassing the West Badr el Din (4,180 sq km) and South East Meleiha (2,535 sq km) concessions, located in the prolific Abu Gharadig Basin in Egypt's Western Desert. The oil and gas potential in North Africa, particularly in Egypt, is very attractive to explore more oilfields. Recently, Egypt is advancing towards to reshaping it oil and gas scenarios. This follows with the European Bank for Reconstruction and Development’s (EBRD) US$200mn loan to modernise the North African country’s oil refinery and SDX’s significant natural gas discovery in Egypt.

Source: The North Africa Journal May 28, 2018 06:45 UTC