Egypt signs agreements for onshore and offshore development
Key Highlights
- EGAS and Harbour Energy signed an agreement for the Disouq Onshore Concession in the Nile Delta.
- EGPC and Eni signed a HoA for the renewal of the Port Fouad Offshore Development Area in the Mediterranean Sea.
Egyptian production companies signed agreements with Harbour Energy PLC and Eni SPA for onshore and offshore development.
Egyptian Natural Gas Holding Co. (EGAS) and Harbour Energy signed an agreement for the Disouq onshore concession in the Nile Delta. The agreement provides for the addition of two new blocks to the concession area, with Harbour Energy committing to drill two new exploration wells and carry out maintenance operations on one of the producing wells under the Disouq-1 development lease.
The agreement entails initial investments of $6 million in addition to a signature bonus of $1 million.
A head of agreement (HoA) was signed between Egyptian General Petroleum Corp. (EGPC) and Eni for the renewal of the Port Fouad offshore development area in the Mediterranean Sea and its associated work program. The agreement aims to sustain petroleum operations and enhance the area’s attractiveness for new investments.
