The Egyptian Cabinet has granted the initial approval to assign the Northeast Offshore Arish concession to Egyptian Natural Gas Holding Company (EGAS) and Eni for oil and natural gas exploration.

The decision came as part of the directions to accelerate exploration activities in the Northeast Offshore Arish concession to increase the production of natural gas during the upcoming period in an effort for Egypt to become a regional energy hub.

The initial approval of the project comes as a preparation for taking the necessary legal and executive measures to start operations.