Egypt's Petroleum Corporation signs $1 bln oil-exploration agreement with Eni

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Eni's logo is seen in front of its headquarters in San Donato Milanese, near Milan, Italy, April 27, 2016. REUTERS/Stefano Rellandini

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CAIRO, Dec 24 (Reuters) - Egyptian General Petroleum Corporation (EGPC) has signed an agreement with Italian energy group Eni (ENI.MI) for oil exploration in the Gulf of Suez and Nile Delta regions worth "not less than $1 billion" of investments, the petroleum ministry said on Friday.

The agreement also included a commitment from Eni to additionally spend "not less than $20 million" to drill 4 wells, the ministry added in a statement.

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Reporting by Ahmed Ismail; Writing by Enas Alashray; Editing by Kirsten Donovan

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