Egypt Approved Oil,Gas Exploration Licenses

Egypt Approved Oil,Gas Exploration Licenses

The Egyptian Parliament’s Energy and Environment Committee, in accordance with the committee for Constitutional and Legislative Affairs, approved 6 new exploration oil and gas agreements, reported Ahram Gate.

The agreements grant oil and gas explorations rights to the Egyptian General Petroleum Corporation (EGPC) for the Shokair concession in Gulf of Suez, EGPC together with Sahary Company for Qarun West concession in the Western Dessert, the Egyptian Gas Holding Company (EGAS) and Edison for East-Haby area, a consortium of companies lead by EGAS for the North Hamad Area, EGAS together with Exploration Delta and Ieoc Production BV for North Ras El Esh, EGAS and BP Exploration for North Tabya, and finally EGPC for East-Eash El Malaha.

This comes as Egypt pushed to increase the country’s national oil and gas production. Egypt Oil&Gas reported that the Minister of Petroleum, Tarek El Molla, had stated that Egypt’s production of natural gas would increase to 5bcf/d in the 2017/2018 fiscal year, from it’s current level of 4.35bcf/d. He added that the country would still increase gas imports to cover growing demand that has reached 5.2bcf/d.

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Sarah Samir 3530 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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