Parliament Approves Five Oil, Gas Exploration Licenses

Parliament Approves Five Oil, Gas Exploration Licenses

The Egyptian Parliament approved the reports of the joint committee from the Energy and Environment Committee and the Office of the Constitutional and Legislative Affairs Committee, on a draft law licensing the Minister of Petroleum and Mineral Resources Tarek El Molla to contract with the Egyptian Natural Gas Holding Company (EGAS) and IEOC Production B.V. to explore and exploit gas and crude oil in the offshore area of ​​Thebes in the Mediterranean Sea, El Ahram Newspaper reported.

Moreover, the Parliament approved a draft law licensing the Minister to contract with EGAS, IEOC Production B.V., and BP Exploration (Delta) Limited to search for and exploit gas and crude oil in the Bellatrix-Seti East block offshore Mediterranean.

The Parliament further approved a draft law licensing El Molla to contract with EGAS and BP Exploration (Delta) Limited to amend the commitment agreement issued by Law No. 89 of 2016 to explore and exploit gas and crude oil in the North El Tabya area in the Mediterranean.

Additionally, the Parliament approved a draft law licensing the Minister to contract with EGAS, BP Exploration (Delta) Limited, and Wintershall Dea to explore gas and crude oil and exploit them in the North West Abu Qir Offshore area in the Mediterranean Sea.

The Parliament also approved a draft law licensing the Minister to contract with EGAS and BP Exploration (Delta) Limited to search for and exploit gas and crude oil in the North King Mariout block in the Mediterranean.

Sarah Samir 3469 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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