December 24, 2019 / 2:35 PM / a month ago

Russia's Zarubezhneft says joins two offshore oil blocks in Egypt

MOSCOW (Reuters) - 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.

Reporting by Polina Devitt; Writing by Vladimir Soldatkin; Editing by Hugh Lawson

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