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Oil & Gas

Egypt’s Cabinet approves three E&P Agreements with Eni, BP, Enpedco

Posted: November 5, 2020 at 12:28 pm   /   by   /   comments (0)

Three bills that authorize the Oil Ministry to sign oil exploration contracts earned cabinet signoff.

IEOC, Eni’s joint venture with the EGPC, and Russian firm Lukoil will explore and develop the Meleiha concession in the Western Desert, while a second contract between the EGPC and BP for the South Ghareb Offshore concession in the Gulf of Suez.

The third agreement brings together state-owned South Valley Egyptian Petroleum Holding Company (Ganope) and the Egyptian National Petroleum for Exploration and Development Company (Enpedco), a company majority-owned by the Military’s National Service Projects Organization, to explore Wadi Deeb Concession in the Eastern Desert.