Cabinet approves 13 draft agreements for oil, natural gas

The Cabinet approved during a meeting on Wednesday, 1-2-2023, under Premier Mostafa Madbouli 13 draft agreements between the Egyptian General Petroleum Corporation, the Egyptian Natural Gas Holding Company and a number of international companies.This c…

The Cabinet approved during a meeting on Wednesday, 1-2-2023, under Premier Mostafa Madbouli 13 draft agreements between the Egyptian General Petroleum Corporation, the Egyptian Natural Gas Holding Company and a number of international companies.

This comes in preparation of finalizing legislative procedures for issuing proposed laws relevant to these agreements.

Under the deals, the Egyptian General Petroleum Corporation will be responsible for oil exploration in areas west of Wadi Natrun, east of Siwa, west of Magharra, west of Abu Gharadiq, east of Alam Saweesh and in the Gulf of Suez.

The Egyptian Natural Gas Holding Company will be in charge of natural gas and crude oil exploration in the Mediterranean Sea areas, including north of Fayrouz and Rafah, Tiba, and Tabiya as well as northeast of Arish.

Source: State Information Service Egypt

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