Egypt Inks Mediterranean Oil and Gas Exploration Deals with Eni and BP

(Credit: The Ministry of Petroleum and Mineral Resources of Egypt)

The Ministry of Petroleum and Mineral Resources of Egypt has signed an agreement with Eni and BP to launch oil and gas exploration activities in the Mediterranean Sea.

The agreement includes the drilling of an exploration well in the Temsah concession area in the coming months, as part of efforts to advance natural gas exploration plans and increase opportunities for new discoveries.

The deal was signed the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and energy majors Eni, through its subsidiary IEOC, and BP.

“This agreement is a new step toward maximizing production and harnessing promising offshore resources,” said Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources.

Badawi added that the Temsah concession reflects a long-standing partnership between EGPC, EGAS, and their international partners, backed by advanced technical work and cumulative experience.

He stressed the importance of leveraging the advanced technologies and capabilities of Eni and BP to unlock new resources that will benefit the state and all stakeholders.

The Temsah concession is located offshore in the Mediterranean Sea, near the Nile Delta

The concession includes the Denise, Karawan, and Tuna gas fields. The DEKA project (Denise and Karawan) aims to develop these fields and supply gas to the Egyptian domestic market.