Cairo –The Egyptian cabinet approved three draft laws regarding three petroleum exploration agreements.

The first agreement was signed by the Egyptian General Petroleum Corporation (EGPC) with Ieoc Production BV and Ieoc Oil Overseas Egypt ltd for oil exploration and development in Meleiha region in the Western Desert, according to a cabinet statement on Wednesday.

In addition, the government also approved a deal between EGPC and BP Egypt for oil exploration and development in southwest Bahariya in the Gulf of Suez.

The third agreement was signed between Ganoub El Wadi Petroleum Holding Company (Ganope) and the Egyptian National Petroleum For Exploration and Development Company for petroleum exploration and development in the Eastern Desert.

Source: Mubasher

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