The Cabinet has approved to settle the contractual disputes between the Egyptian General Petroleum Company (EGPC) and Petroceltic, according to a statement.

The Cabinet has assigned each of the First Undersecretary of the Ministry of Petroleum and Mineral Resources, Ashraf Farag; and EGPC’s CEO, Abed Ezz El Regal, as delegates to sign the dispute settlement. Petroceltic filed for an arbitration case from the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) against EGPC back in 2019.