Egypt and Palestine signed a memorandum of understanding (MoU) between the partners of the Gaza gas field; the Palestine Investment Fund (PIF), the Consolidated Contractors Company (CCC), and the Egyptian Natural Gas Holding Company (EGAS) to develop the Gaza gas field and the necessary infrastructure.

Al Yasat Petroleum Company has awarded a Front End Engineering Design (FEED) services contract to the National Petroleum Construction Company (NPCC) and Petrofac Company for the Belbazem Block Development Project.