The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) have signed a new agreement with Italy’s Eni, represented by its Egyptian subsidiary, the International Egyptian Oil Company (IEOC), and British BP, to begin exploration activities in the Mediterranean Sea.
The agreement includes drilling an exploratory well in the Temsah concession area in the coming months as part of a plan to enhance natural gas exploration and support opportunities for discoveries.
The agreement was signed by EGPC Chairman Salah Abdel Kerim, EGAS Chairman Yassin Mohamed, Eni’s General Manager in Egypt Francesco Gaspari, and BP’s Regional Vice President in Egypt Wail Shaheen.
The signing took place in the presence of Minister of Petroleum and Mineral Resources Karim Badawi and Eni’s Head of North Africa and Levant Region Martina Opizzi.
Eni plays a significant role in Egypt’s energy sector, with activities spanning several areas, including hydrocarbon development and production, gas projects, refining, and marketing of crude oil products.
Eni is also a key partner in the Damietta natural gas liquefaction plant, contributing to both the growth and decarbonization of Egypt’s energy sector.
Meanwhile, BP has a long-standing and significant presence in Egypt, operating for over 60 years with substantial investments in the country’s energy sector, focusing on natural gas exploration, development, and production.
Source: https://energynewsafrica.com
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