Deal signed for drilling 240 wells in Egypt

The Egyptian petroleum and irrigation ministries signed on Sunday a deal to drill 240 wells.
In statements to MENA, Irrigation Minister Hossam Moghazi said the agreement will cost 800 million pounds.
Moghazi added that the wells will run by solar power, noting that the deal comes as part of the one-million-feddan reclamation project.
Petroleum Minsiter Sherif Isamil, meanwhile, said that Chinese companies will take part in the project, which will be finalized within 18 months.
The signing ceremony came on the sidelines of the Egypt Economic Development Conference, which wraps up today.