The House of Representatives approved, during its general session on Tuesday 19/3/2024, three bills allowing the petroleum minister to strike contracts for oil exploration in the Mediterranean Sea, Gulf of Suez and Western Desert.
Under the first draft law, the ministry will contract with the Egyptian General Petroleum Corporation, BG Delta Limited, and PICL Egypt Corporation Ltd for oil exploration in western Delta region in the Mediterranean Sea.
Under the second bill, the minister will sign a contract with the Egyptian General Petroleum Corporation and the General Petroleum Company (GPC ) on oil exploration in northwest October area in the Gulf of Suez.
Under the third bill, the minister will sign a contract with the Egyptian General Petroleum Corporation, Apex International Energy Holdings II and INA-Industrija nafte, d.d. for oil exploration in the Ras Qatara development area in the Western Desert.
Source: State Information Service Egypt