Platts: BP, Total, Eni to Invest $229 Million in New Egyptian Blocks

BP, Total and Eni have between them committed to investing $229 million in the three Egyptian offshore exploration blocks they were awarded last week, BP said Wednesday.

The awards offshore the Nile Delta in the eastern Mediterranean follow a wave of discoveries that have vastly increased Egypt's gas resources, potentially easing its energy shortages and enabling the country to boost its flagging LNG exports.

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