The Egyptian Cabinet has approved five petroleum concession agreements involving the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), Ganoub El Wadi Petroleum Holding Company (GANOPE), and several international energy firms.
These agreements commit a minimum investment of $225.3 million and include plans to drill at least 40 wells for natural gas and crude oil exploration.
Global energy companies continue to expand their presence in Egypt, aiming to boost production and unlock new discoveries through exploration and development efforts.
The projects focus on key petroleum exploration and production areas, including the offshore Merneith block in the Mediterranean.
Additional development sites include Southeast Meleiha, the Kanais block, 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.
