The Egyptian Cabinet announced on Tuesday that it has approved five petroleum commitment agreements for the Egyptian Natural Gas Holding Company, the Egyptian General Petroleum Corporation, and several international and national companies. These agreements involve expected investments of approximately $200 million.
These agreements aim to boost Egypt’s oil and gas reserves and production, addressing the country’s growing energy demands.
The projects include exploration and exploitation activities in the Mediterranean Sea’s North Port Fouad and South Nour marine areas, the Ard North Al-Khatatba area in the Nile Delta, and the Horus and South Dabaa Development Zones in the Western Desert.
The approved agreements reflect Egypt’s strategy to attract foreign investment in its oil and gas sector and develop its natural resources.
The agreements also include an amendment to an existing commitment in the Horus Development Zone. These efforts are part of the government’s broader plan to enhance national production capacity and ensure the effective provision of energy to meet increasing demand.
