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Exxon Mobile heading to Egyptian shores

Exxon Mobil Corp said on Monday it acquired 1.7 million acres for exploration offshore Egypt, with operations scheduled to begin in 2020.

The acquisition includes acreage in the 1.2 million North Marakia Offshore block located about five miles offshore Egypt’s northern coast and 543,000 acres in the North East El Amriya Offshore block in the Nile Delta, the company said.

Source: Reuters

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