Egypt Touts Block Awards But IOC Debts Mount

IOCs are threatening to withhold investment if payments continue to stall.

The investment threats come as the country’s oil ministry this week touted the award of nine oil and gas exploration contracts with a combined investment of at least $470m.

The deals show that Egypt is “still able to attract petroleum investments,” oil minister Sharif Ismail says. Royal Dutch Shell is amongst the contract winners, who have...