Cabinet Approves Five Draft Laws for Petroleum Agreements

Cabinet Approves Five Draft Laws for Petroleum Agreements

The Egyptian Cabinet approved five draft laws for licensing to the Minister of Petroleum and Mineral Resources, Tarek El Molla, regarding oil and gas commitment agreements, for the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and a number of national and international companies.

The cabinet announced a draft law authorizing the minister to contract with the EGPC, Apache Khalda Corporation LDC, and Tharwa Petroleum Company, to amend the commitment agreement issued by Law No. 148 of 2004 amended by Law No. 144 of 2009 and Law No. 122 of 2014 for the exploration and exploitation for oil in the Siwa region of the Western Desert.

Another draft law authorized the Minister of Petroleum and Mineral Resources to contract with EGPC and IPR Trans Oil Corporation, to amend the concession agreement issued by Law No. 155 of 1963 amended by Law No. 172 of 2005 to explore and exploit oil in the Yidma/Alamein Concession, in the Western Desert.

The cabinet further approved a draft law authorizing the minister to contract with EGPC and HPS International Egypt Limited, to amend the commitment agreement issued by Law No. 213 of 2014 to search for and exploit oil in the southwestern El Alamein region in the Western Desert.

A draft law authorizing the Minister of Petroleum and Mineral Resources to contract with EGPC and North Petroleum International Company (NPIC), to amend the commitment agreement issued by Law No. 9 of 2007 to search for and exploit oil in the East Ghazalat region in the Western Desert.

Finally, a draft law authorizing the Minister of Petroleum and Mineral Resources to contract with EGAS and Dana Gas Egypt Limited to search for and exploit gas and oil in the New Manzala area in the Nile Delta.

Sarah Samir 3455 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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