The Cabinet approved a petroleum concession agreement for the exploration, development, and exploitation in the Integrated Badr El-Din area in the Western Desert. The agreement involves the Egyptian General Petroleum Corporation (EGPC), Cheiron Petroleum, and Capricorn, as part of the state’s plans to enhance development operations and increase production rates and recoverable reserves.
According to a statement by the Cabinet, the agreement includes a minimum investment of $208 million and the drilling of around 44 wells. It targets monthly production of 105,000 barrels of oil and 1.2 billion cubic feet of natural gas.
The production is expected to save around $25 million per month in the import bill within six to 12 months following the agreement’s issuance. The agreement also includes training grants.
The Integrated Badr El-Din area consolidates eight existing concession agreements in the Western Desert into a single integrated concession, following EGPC’s approval in May 2025.
The merged concessions include Badr El Din (BED), Obaiyed, North Alam El Shawish, North Matruh, Sitra, BED 3, BED 2, BED 17 development concessions, and the North Um Baraka exploration concession.
Cheiron and Capricorn together hold a 50% stake in the concessions, with Cheiron serving as the operator.
