EGYPT

Total Group Makes Significant Oil Discovery Off North Sinai 

A consortium comprising Total (27.5%, operator), Agip (27.5%), BP (22.5%)and Elf Aquitaine (22.5%) has made a promising oil discovery in Egyptian waters north of the Sinai Peninsula. The discovery is significant because it is the easternmost ever made in Egypt's Mediterranean offshore and may therefore open up a new oil producing area for Egypt. So far only gas had been discovered in the north Sinai offshore. The...