The Egyptian Cabinet has approved five petroleum concession agreements involving EGPC, EGAS, GANOPE, and several international energy companies.
These agreements commit a minimum investment of $225.3 million, with plans to drill at least 40 wells for natural gas and crude oil exploration.
Global energy firms continue to expand their investments in Egypt, aiming to boost production and maximize the potential of exploration and development sites for new discoveries.
The projects focus on key petroleum exploration and production areas, including the offshore Merneith block in the Mediterranean.
Other designated oil and gas development sites include Southeast Meleiha, Kanais Company, the West Razzak development area in the Western Desert, Wadi Sahil, South Wadi Sahil in the Eastern Desert, and the North Sinai offshore zone in the Mediterranean.
Source:egypttoday.com
African Energy Council