Egypt has approved five gas and crude oil exploration agreements, totaling $200 million in investments from both international and national companies.
Egyptian Natural Gas Holding Company (EGAS) signed two draft commitments with the International Egyptian Oil Company Production – a subsidiary of Italian multinational Eni – for the exploration and production of gas and crude oil in the North Port Fouad and South Nour offshore areas in the Mediterranean Sea.
EGAS also signed an agreement with ZN BV LTD. to explore and develop gas and crude oil in the North Al Khatatbah onshore area of the Nile Delta.
The Egyptian General Petroleum Corporation amended its agreement with local upstream company Tharwa Petroleum Company to explore and produce oil in the Horus Development Area, as well as approved a new upstream agreement with HPS International Egypt for the South Dabaa Development Zone.
