Egypt seeks gas through 4 new projects

The draft agreements included, according to a statement by the Cabinet following its meeting, a draft commitment agreement to search for and exploit gas and crude oil in the North Port Fouad marine area in the Mediterranean Sea, between Egypt, the Egyptian Natural Gas Holding Company, and the company “IAOC Production BV.”

The approved list includes the draft commitment agreement for the exploration and exploitation of gas and crude oil in the South Noor offshore area in the Mediterranean Sea, between Egypt, the Egyptian Natural Gas Holding Company, and IAOC Production BV.

It also includes the draft commitment agreement to search for and exploit gas and crude oil in the North Khatatba land area in the Nile Delta, between Egypt, the Egyptian Natural Gas Holding Company and the company “LTD ZNBV”.

The draft amendment to the commitment agreement for the exploration, development and exploitation of petroleum in the Horus Development Area in the Western Desert, issued by Law No. 105 of 2014 between Egypt, the Egyptian General Petroleum Corporation, Tharwa Petroleum Company, and the General Petroleum Company, was also approved, as well as the draft commitment agreement for the exploration, development and exploitation of petroleum in the South Dabaa Development Area in the Western Desert between Egypt, the Egyptian General Petroleum Corporation, and HPS International Egypt Limited.

Source: RT