The Egyptian Parliament has approved legislation to allow the Minister of Petroleum, Tarek El Molla, to contract with the Egyptian General Petroleum Corporation (EGPC) and Perenco North Sinai Petroleum to amend the exploration and production (E&P) agreement for the North Sinai offshore concession, Ahram Gate reported.
The parliament also approved legislation allowing El Molla to contract with EGPC, Kuwait Energy, Dover Investment Limited, and Rockhopper Egypt to amend the E&P agreement of the Abu Senan region, in the Western Desert.
Earlier in May, El Molla was given the green light to contract several Egyptian companies to participate in exploration and production (E&P) activities, Egypt Oil & Gas reported.
The Egyptian cabinet approved the license, which will allow the ministry to work with the Egyptian Natural Gas Holding Company, the Italian Egyptian Oil Company (IEOC B.V), Tharwa Petroleum Company on E&P.
Participating companies will search for natural gas and crude oil in the Mediterranean Nour Concession, off the northern coast of the Sinai Peninsula.
The cabinet’s decision was issued in meeting number 119, chaired by Prime Minister Sherif Ismail.