Parliament Approves Draft Laws for New E&P Agreements

Parliament Approves Draft Laws for New E&P Agreements

The House of Representatives approved new draft laws authorizing the Minister of Petroleum and Mineral Resources to contract for exploration and production (E&P) projects across the republic, according to Al-Ahram.

One of the laws allows the minister to contract with the Egyptian General Petroleum Corporation (EGPC) and BP Egypt to explore and develop the South Ghareb offshore in the Gulf of Suez.

Another law  will allow Ganoub El Wadi Petroleum Holding Company (Ganope) and the National Egyptian Drilling and Petroleum Services Company to explore Wadi Deb region in the Eastern Desert.

The House also approved a law authorizing the minister to contract with EGPC, the International Egyptian Oil Company (IEOC) Production B.V. to explore Meliha development area in the Western Desert.

The House also approved the Presidential Decree No. 644 of 2020 regarding approval of the Charter of the Eastern Mediterranean Gas Forum (EMGF) signed in Cairo on September 22, 2020.

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