UK Markets open in 7 hrs 10 mins

Egypt awards oil and gas exploration concessions in Red Sea - statement

CAIRO (Reuters) - Egypt said on Sunday that it awarded oil and gas exploration concessions in the Red Sea to Chevron <CVX.N>, Royal Dutch Shell <RDSa.L> and Mubadala <MUDEV.UL> in an international tender.

Chevron was awarded the first block, Shell a second block, and a third block was awarded jointly to Shell and Mubadala with a total exploration area of around 10,000 square km (3,860 square miles) and with a minimum investment of $326 million, the petroleum ministry said in a statement.



(Reporting by Ehab Farouk; writing by Nadine Awadalla; editing by Richard Pullin)