The Egyptian General Petroleum Corporation (EGPC) has extended the Gulf of Suez and Nile Delta concession of Italy’s Eni until 2040 represented  This extension allows for the full economic utilization of the available oil and gas potential within the concession area.

Under the agreement, Eni will commence a new 3D seismic survey campaign to identify untapped resources in the area, utilising its specialised technologies and deep subsurface geological expertise.

Following the signing, Karim Badawi, Minister of Petroleum and Mineral Resources, said that this agreement represents a strategic achievement that builds on more than 70 years of partnership with the Italian company, paving the way for further discoveries in Egypt.

The new agreement, he said, paves the way for the application of advanced technologies in exploration and production, creating a strong opportunity to achieve discoveries, higher output, and reduced import bills.

Francesco Gasparri, Eni’s General Manager, affirmed Eni’s renewed commitment to health, safety, and environmental standards, emphasizing the company’s drive toward safer and lower-carbon operations.

It is worth noting that the Belayim oil field, operated by Eni since 1954 and located within the concession area, remains Egypt’s largest historical oil field. With production of around 60,000 barrels per day in 2025, the field remains a valuable asset, reflecting the long-standing partnership with Eni.

Eni operates several major oil and gas fields, including the significant Zohr gas field in the Shorouk concession and the Baltim fields offshore the Mediterranean.