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-DEA Deutsche Erdoel AG - Concessions extended in Egypt

Mar 08, 2019 - ENP Newswire

DEA has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez.

At a formal ceremony event, witnessed by H.E. Eng. Tarek El-Molla the Egyptian Minister of Petroleum and Mineral Resources, DEA's General Manager Sameh Sabry signed the new concession agreement. The new agreement extends the concession for five years ending mid-2022. It includes an optional extension of another five years until 2027, subject to mutual agreement.

Sameh Sabry says: 'I am de...