President Abdel Fattah El-Sisi has approved two new laws that authorize oil exploration, development, and production agreements in Egypt’s North Sinai offshore area and the Gulf of Suez.
The decrees give Petroleum Minister Karim Badawi the authority to sign contracts with international partners to expand upstream activity.
Under Law No. 81 of 2025, the ministry will partner with the Egyptian General Petroleum Corporation and Perenco subsidiaries to explore for and produce hydrocarbons in the North Sinai offshore development area.
The companies involved are Perenco North Sinai Petroleum Inc., Perenco North Sinai Oil Limited, Perenco North Sinai Gas Limited, and Perenco Resources Egypt Limited.
The decision follows an agreement signed in October 2025 that transferred the North Sinai Offshore concession to Perenco North Sinai Petroleum.
In a separate decree, Law No. 163 of 2025 authorizes the ministry to work with EGPC and Dragon Oil on exploration and production activities in the East Al-Hammd area of the Gulf of Suez.
Dragon Oil executive Abdulkarim Al Mazmi previously said the company plans to invest at least $3 billion in Egypt in the coming years.
The agreements are part of Egypt’s wider push to increase exploration, raise oil output, and improve energy security.
source: www.oilandgasmiddleeast.com
African Energy Council