{"id":671861,"date":"2025-09-15T00:00:00","date_gmt":"2025-09-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/15\/oil-ministry-inks-usd-121-mn-worth-of-oil-and-gas-exploration-agreements\/"},"modified":"2025-09-15T00:00:00","modified_gmt":"2025-09-15T00:00:00","slug":"oil-ministry-inks-usd-121-mn-worth-of-oil-and-gas-exploration-agreements","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/15\/oil-ministry-inks-usd-121-mn-worth-of-oil-and-gas-exploration-agreements\/","title":{"rendered":"Oil Ministry inks USD 121 mn worth of oil and gas exploration agreements"},"content":{"rendered":"<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- The Oil Ministry has inked three new oil and gas exploration <\/strong><strong>agreements worth <\/strong><strong>more than USD 121 mn<\/strong> across the Western Desert, Gulf of Suez, and North Sinai, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1LyRGd3gLB\/?mibextid=wwXIfr\" style=\"\" rel=\"noopener\">statement<\/a>. The agreements, signed by the Egyptian General Petroleum Corporation (EGPC) with international players, include a USD 46 mn reassignment of the North Sinai Offshore area to Perenco Egypt to drill three wells with a USD 1 mn signature bonus; a USD 40.5 mn agreement with UAE\u2019s Dragon Oil to drill three wells in East El Hamd, with a USD 4.5 mn bonus; and a USD 35 mn agreement with Apache to add five new exploration areas in the Western Desert, covering 14 wells and carrying a USD 25 mn bonus. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- EGPC<\/strong> <strong>plans to recover <\/strong><strong>13 mn <\/strong><strong>barrels of crude oil and condensate reserves in 4Q 2025<\/strong>, up from 4 mn barrels in the same period last year, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/09\/14\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D8%B3%D8%AA%D8%B9%D8%A7%D8%AF%D8%A9-13-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%A8%D8%B1%D9%85%D9%8A%D9%84-%D9%85%D9%86-%D8%A7%D8%AD%D8%AA%D9%8A%D8%A7%D8%B7%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84-%D8%AE%D9%84%D8%A7%D9%84-3-%D8%A7%D8%B4%D9%87%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing an unnamed government official. The plan will be carried out by developing old onshore and offshore oil concession sites in cooperation with the foreign partners operating the concessions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The project will mainly focus on fields whose production rates have been low for years, including the Western Desert, set to account for 75% of the recovery plan, along with fields in the Eastern Desert and the Gulf of Suez. EGPC aims to boost crude production by over 15% in the current fiscal year, with current output standing at 525k barrels per day.<\/p>\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Banna Group acquires Al Dahra\u2019s citrus farm in Egypt:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.elbannagroup.com\/\" style=\"\" rel=\"noopener\">El Banna Group<\/a> \u2014 one of Egypt\u2019s largest citrus producers and exporters \u2014 has acquired UAE-based agribusiness firm <a target=\"_blank\" href=\"https:\/\/aldahra.com\/\" style=\"\" rel=\"noopener\">Al Dahra Group\u2019s<\/a> citrus farm and packhouse in Salheyia, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/9\/781.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> from Zilla Capital, who acted as sole financial advisor to Al Dahra.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.taic.com\/\" style=\"\" rel=\"noopener\">Arab Investment Company (TAIC)<\/a><\/strong><strong> has tapped CI Capital Holding\u2019s <\/strong><strong>asset management outfit, CI Capital Asset Management to manage its portfolio<\/strong>, according to a statement. The agreement marks TAIC\u2019s first mandate with an Egyptian manager as it looks to deploy about USD 800 mn across the region before year-end, with Egypt identified as a key growth market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HEALTHCARE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egypt Healthcare Authority launched a national telemedicine platform <\/strong><strong>connecting Egyptian doctors abroad with patients<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1338485384988545?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a> from the authority. The platform will be implemented in coordination with Egyptian embassies abroad and related ministries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- EGPC plans to recover 13 mn barrels of crude oil and condensate reserves in 4Q 2025<\/p>\n","protected":false},"author":1,"featured_media":671862,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[97,111,102,7389,557,93,72,7115,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-671861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-agriculture","tag-also-on-our-radar","tag-capital-markets","tag-egypt-healthcare-authority","tag-egyptian-general-petroleum-corporation","tag-energy","tag-enterpriseam","tag-healthcare","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"4b52c008-7b36-485e-955f-b00542b68ff3","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1027.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt inks USD 121 mn worth of oil and gas exploration agreements","related_issue":[671840],"teaser":"PLUS- EGPC plans to recover 13 mn barrels of crude oil and condensate reserves in 4Q 2025","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.22dc442b-8bf4-46ce-889a-dc5e5bf7c276.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Oil Ministry inks USD 121 mn worth of oil and gas exploration agreements - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/09\/15\/oil-ministry-inks-usd-121-mn-worth-of-oil-and-gas-exploration-agreements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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exploratory well North Lotus Deep-1 in the Western Desert","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2299.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":660467,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/12\/intl-energy-players-to-invest-usd-130-mn-in-oil-and-gas-drilling\/","url_meta":{"origin":671861,"position":1},"title":"Int\u2019l energy players to invest USD 130 mn in oil and gas drilling","author":"enterpriseam admin","date":"12 February 2025","format":false,"excerpt":"The companies will drill 10 oil and gas exploration wells in East Port Said and the Western Desert","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/152.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567393,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/21\/egpc-signs-usd-450-mn-in-oil-and-gas-ep-agreements\/","url_meta":{"origin":671861,"position":2},"title":"EGPC signs USD 450 mn in oil and gas E&#038;P agreements","author":"enterpriseam admin","date":"21 January 2020","format":false,"excerpt":"EGPC signs USD 450 mn in oil and gas E&P agreements: The state-owned Egyptian General Petroleum Corporation (EGPC) yesterday signed nine oil and gas exploration and production agreements that will see companies invest at least USD 452 mn to drill 38 wells in concessions in the Mediterranean and Western Desert,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/664.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627409,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/31\/egpc-signs-usd-46-mn-oil-and-gas-exploration-agreement-with-bp\/","url_meta":{"origin":671861,"position":3},"title":"EGPC signs USD 46 mn oil and gas exploration agreement with BP","author":"enterpriseam admin","date":"31 July 2018","format":false,"excerpt":"The Egyptian General Petroleum Corporation (EGPC) signed a USD 46 mn agreement with BP yesterday for oil and gas exploration the in Gulf of Suez, according to a statement picked up by Ahram Gate. The agreement also includes a USD 4 mn to cover the cost of drilling three wells.\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594791,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/08\/enpedco-egpc-ink-agreements-for-western-desert-oil-and-gas-exploration\/","url_meta":{"origin":671861,"position":4},"title":"ENPEDCo, EGPC ink agreements for Western Desert oil and gas exploration","author":"enterpriseam admin","date":"8 September 2019","format":false,"excerpt":"The Egyptian National Petroleum for Exploration and Development Company (ENPEDCo) and the EGPC signed two agreements to explore oil and gas in the Western Desert last week, the Oil Ministry said in a statement (pdf). The companies intend to invest at least USD 4 mn to drill four exploratory wells\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":635629,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/10\/egpc-signs-3-oil-and-gas-exploration-agreements-worth-usd-50-mn\/","url_meta":{"origin":671861,"position":5},"title":"EGPC signs 3 oil and gas exploration agreements worth USD 50 mn","author":"enterpriseam admin","date":"10 December 2017","format":false,"excerpt":"The EGPC has signed oil and gas exploration agreements with three international companies worth a combined USD 50 mn, an Oil Ministry official tells Al Borsa. These include a USD 20 mn oil and gas exploration agreement with our friends at Apex International in the West Badr El Din concession\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/671861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=671861"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/671861\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/671840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/671862"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=671861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=671861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=671861"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=671861"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=671861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}