An official told "Al-Sharq Bloomberg":
Total Energies is seeking to obtain a concession area for gas exploration and prospecting in an area of 5,000 square kilometers in deep waters northwest of Egyptian waters in the Mediterranean Sea.
The Egyptian EGAS is currently examining the French company's request in its final stages, and has not yet given it final approval.
The total energies will be borne by research and exploration investments, according to a production sharing system based on a profitability factor that corresponds to the magnitude of the risks and investments required for deep water work.
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