Egypt signs first fracking shale gas deal with U.S. firm

Special to WorldTribune.com

ApacheDealCAIRO — Egypt has signed a natural gas exploration contract with Western companies.

The Petroleum Ministry has signed a contract with the U.S. firm Apache Corp. and Europe’s Shell Egypt for the drilling of three wells in the Western Desert. The ministry said the contract called for advanced exploration techniques in projects that would require an investment of up to $40 million.

“The project will require horizontal drilling and hydraulic fracturing, which is the same as the shale gas production method used in the United States,” the Petroleum Ministry said.

In a statement on Dec. 17, the Petroleum Ministry said the drilling would take place in the Abu Al Ghardeeq region in the Western Desert. The contract was said to have been the first for the Egyptian production of unconventional gas.

Source Article from http://www.worldtribune.com/2014/12/18/egypt-signs-first-fracking-shale-gas-deal-u-s-firm/

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