Egypt signs two deals with ExxonMobil

Egypt has signed two deals with ExxonMobil Corp. for oil and gas exploration in the Mediterranean, the Petroleum Ministry said Tuesday. The deals involve a minimum investment of $332 million, the ministry explained in a statement. ExxonMobil announced the acquisition of more than 7000 square kilometers 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.