TotalEnergies, EGAS sign MoU to assess Egypt's deep offshore exploration potential

TotalEnergies and state-owned Egyptian Natural Gas Holding Company (EGAS) signed a Memorandum of Understanding (MoU) related to exploration activities in an offshore area northwest of Egypt.

The MoU establishes a framework for technical cooperation including preliminary exploration and subsurface evaluation activities, TotalEnergies said in a release May 13. 

In a post to its LinkedIn account, EGAS said the two companies aim to "cooperate in natural gas exploration activities across a vast area in the Western Mediterranean region."

Dr. Mostafa Madbouly, Prime Minister of Egypt, witnessed the signing and "reaffirmed the government's full support for efforts aimed at attracting further investments in exploration and upstream activities through incentives and facilitation measures offered to international partners," EGAS said.