Sisi approves 3 decrees to search for gas, crude oil

CAIRO – 2 March 2021: President Abdel-Fattah El-Sisi approved Tuesday three laws to search for gas and crude oil and exploit them in three areas in Egypt. 

Sisi approved Law No. 173 of 2019 authorizing the Minister of Petroleum and Mineral Resources to contractwith the Egyptian Natural Gas Holding Company, LJ Delta Limited and PICL "Egypt" Corporation Ltd to search for gas and crude oil and to exploit them in the northern Al-Fanar marine area in the Mediterranean

The President also ratified Law No. 146 of 2020 licensing the Minister of Petroleum and Mineral Resources to enter into contracts with the Egyptian Natural Gas Holding Company, Ieoc Production B.V., and BP Exploration (delta) Ltd, to search for gas and crude oil and exploit them in the West Sherbin land area in the Nile Delta.

In addition, President El-Sisi also approved Law No. 156 of 2020 licensing the Minister of Petroleum and Mineral Resources in contracting with the Egyptian Natural Gas Holding Company, BG Delta Limited, Noble Energy Egypt,  and Tharwa Petroleum Company, to search for gas and crude oil and to exploit them in the North Marina marine area in the Mediterranean.

These laws were published in the Egyptian Gazette in its issue on March 2.