Egypt’s House of Representatives approves 12 Oil & Gas E&P Agreements

The Egyptian oil minister, Tarek el Molla, has announced the signing of 12 agreements with international companies for the search for oil and gas in the Red Sea, in the Western Desert and in the exclusive economic zone (EEZ) in the eastern and western Mediterranean with investments up to to a billion dollars and signing bonuses of up to 19 million dollars.

This was announced by the Egyptian oil ministry in a statement. Of the total of 12 concessions, about 6 are located in the western Mediterranean. The 6 areas were assigned in direct order without being offered in a tender, as a senior official told “Agenzia Nova”. The areas of the Western Mediterranean include North Dabaa, North Sidi Barani, North Salloum (near the Libyan borders) – North El Amreyia, Northern Ras Kanayes, North Marina.

In addition to the 6 concessions, there are 6 other concessions in the western desert, the Red Sea and the Egyptian EEZ in the East Mediterranean. “The agreements have been signed with several global companies including Chevron, Edison, BP, Total, Shell, Noble Energy, KUFPEC and Mubadala,” said el Molla.

DETAILS OF AGREEMENTS

Agreement between the Egyptian General Petroleum Corporation (EGPC) and Tharwa Petroleum Company SAE to amend commitment for oil exploration and production at East Abu Sennan area in the Western Desert.
Agreement between the Egyptian Natural Gas Holding Company (EGAS) and Total E&P Offshore Western Desert B.V Company, BG Delta Limited Company, Kufpec Egypt Limited and Tharwa Petroleum Company SAE for oil and gas exploration and production in North Ras Kanayes offshore concession in the Mediterranean.
Agreement between EGAS, BG Delta Limited company, Noble Energy Egypt IBV and Tharwa Petroleum Company SAE for oil and gas exploration and production in North Marina offshore concession in the Mediterranean.
Agreement between EGAS, BG Delta Limited, Noble Energy Egypt IBV and Tharwa Petroleum Company SAE for oil and gas exploration and production in North Cleopatra offshore concession in the Mediterranean.
Agreement between EGAS, Chevron Egypt Holdings CPTE Limited, and Tharwa Petroleum Company SAE for oil and gas exploration and production in Narges offshore concession in the Mediterranean.
Agreement between EGAS, Chevron Egypt Holdings B PTE Limited, and Tharwa Petroleum Company SAE for oil and gas exploration and production in Al Dabaa offshore concession in the Mediterranean.
Agreement between EGAS, Chevron Egypt Holdings APTE Limited, and Tharwa Petroleum Company SAE for oil and gas exploration and production in Sidi Barrani area in the Mediterranean.
Agreement between EGAS, BP Exploration Delta Limited, and Tharwa Petroleum Company SAE for oil and gas exploration and production in North Salloum in the Mediterranean.
Agreement between EGAS and Edison International SPA for amending commitment agreement for oil and gas exploration and production in the North El Amreyia Concession in the Mediterranean.
Agreement between Ganoub El Wadi / South Valley Holding Company (GANOPE), Chevron Egypt Holdings DPTE Limited Company, and Tharwa Petroleum Company SAE for oil and gas exploration and production in Block 1 in the Red Sea.
Agreement between GANOPE, Shell Exploration and Production 93 BV, Mubadala LNG Holding RSC Limited and Tharwa Petroleum Company SAE for oil and gas exploration and production in Block 4 in the Red Sea.
Agreement between GANOPE, Shell Exploration and Production 93 BVand Tharwa Petroleum Company SAE for oil and gas exploration and production in Block 3 in the Red Sea.

(Sources: Agenzia Nova & Al Ahram)