TotalEnergies, EGAS Shake Hands on Oil Exploration off Egypt

(Credit: TotalEnergies)

TotalEnergies and the Egyptian Natural Gas Holding Company (EGAS) have signed a memorandum of understanding (MoU) on exploration activities offshore Egypt.

The MoU covers a large area located in offshore north-western Egypt.

The agreement establishes a framework for technical cooperation including preliminary exploration and subsurface evaluation activities.

“We are pleased to launch this cooperation with EGAS, which reflects our shared ambition to further strengthen our partnership with the Arab Republic of Egypt. This agreement will support the assessment of Egypt’s deep offshore exploration potential,” said Nicola Mavilla, Senior Vice President Exploration at TotalEnergies.