CAIRO – 7 March 2024: The Egyptiana Cabinet has given its approval to five draft laws that grant authorization for commitment agreements involving the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and several national and international companies for oil and petroleum exploitation.
One of these draft laws authorizes a contract between the Minister of Petroleum and Mineral Resources, the EGPC, Khalda Petroleum Company (Apache), and Tharwa Petroleum Company. The purpose of this contract is to amend the commitment agreement for conducting research on petroleum and its exploitation in the Siwa region of Western Sahara.
Another draft law grants authorization to the Minister of Petroleum and Mineral Resources to enter into a contract with the EGPC and the IPR Trans Oil Corporation Company. The objective is to amend the concession agreement for the exploration and exploitation of oil in the Yadma/Alamein region in the Western Desert.
Furthermore, these draft laws include authorization for the Minister of Petroleum and Mineral Resources to contract with the EGPC and HBS International Egypt Limited. The aim is to amend the commitment agreement for oil exploitation in the southwestern El Alamein region in the Western Desert.
Additionally, there is a draft law that empowers the Minister of Petroleum and Mineral Resources to contract with the EGPC and North Petroleum International Company. The purpose is to amend the commitment agreement for the exploration and exploitation of oil in the East Ghazalat region in the Western Desert.
Lastly, one of the draft laws authorizes the Minister of Petroleum and Mineral Resources to contract with the EGAS and Dana Gas Egypt Limited. This contract aims to search for and exploit gas and oil in the New Manzala area in the Nile Delta.
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