Egypt Approves New E&P Projects in the Mediterranean

Egypt Approves New E&P Projects in the Mediterranean

The Cabinet approved two new petroleum agreements that would allow the Egyptian Natural Gas Holding Company (EGAS), along with several numbers of national oil companies (NOCs) and international oil companies (IOCs) to explore and produce oil and natural gas in Star offshore (Mediterranean)and the West Sherbeen onshore (Nile Delta), Al Mal reported.

The cabinet also agreed upon several decisions, including the approval of the ministerial committee decision about settling investment disputes, which was held on December 9.

The Cabinet also approved the President’s draft decision on allocating an area of approximately 58.11 acres of state-owned land in the area of the village of Ho – Nag Hammadi Center – in Qena Governorate, on behalf of the Ministry of Electricity and Renewable Energy, to be used for the construction of an electrical transformer station.

 

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