Egypt's Cabinet approves draft laws on 5 petroleum commitment deals in Western Desert

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Arab Finance: The Egyptian cabinet has authorized Minister of Petroleum and Mineral to sign five petroleum commitment agreements for the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and a number of national and international companies, as per a statement.

The first deal will be signed between EGPC, Khalda Petroleum Company (Apache), and Tharwa Petroleum Co to explore and develop oil in Siwa at Egypt’s Western Desert.

The second signing is between EGPC and IPR Energy Group for oil exploration at Yidma/Alamein in the Western Desert.

As for the third agreement, it will be signed between EGPC and North Petroleum Company for oil discovery and development at East Ghazalat, Western Desert.

Moreover, EGPC will ink a deal with HBS International for oil discovery and exploitation at West Alamein in Western desert.

Additionally, the firth agreement will be sealed between EGAS and Dana Gas for oil and natural gas exploration and development in New Manzalah, Nile Delta.