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Russian company joins Egyptian offshore oilblock

Russian state-owned oil and gas producer Zarubezhneft said on Tuesday it has joined two offshore oil blocks in Egypt under a production-sharing agreement.

It said the resources of the blocks – South East Ras El Ush and East Gebel El Zeit – are estimated at more than 200 million barrels.

Zarubezhneft plans to drill two exploration wells at the blocks.

Source: Reuters

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