Egypt said on Dec. 29 that it awarded oil and gas exploration concessions in the Red Sea to Chevron, Royal Dutch Shell and Mubadala in an international tender.
Chevron was awarded the first block, Shell a second block, and a third block was awarded jointly to Shell and Mubadala with a total exploration area of around 10,000 square km (3,860 square miles) and with a minimum investment of $326 million, the petroleum ministry said in a statement.
Schlumberger NV (NYSE: SLB) said on Jan. 18 it would withdraw its application for the acquisition of a stake in Russia’s Eurasia Drilling Co. (EDC) if it is not successful in getting approvals soon.
Oilfield services company Petrofac Ltd. said it would sell its remaining 51% interest in its Mexico operations to Perenco (Oil & Gas) International Ltd. for $276 million.
Egypt said on Nov. 23 it had signed several multimillion-dollar energy investment accords including a $430-million deal for Texas-based Noble Energy to pump natural gas through the East Mediterranean Gas Company's pipeline.