Cairo – Mubasher: The Egyptian Cabinet has granted preliminary approval for five oil and gas agreements with the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), and a group of local and international companies with around $200 million in expected investments.

The agreements include two commitment agreement with EGAS and IEOC Production BV to search for the exploration and exploitation of gas and crude oil in the North Port Fouad and South Nour offshore areas in the Mediterranean, according to an official statement.

Another agreement was approved with EGAS and ZN BV LTD for the exploration and exploitation of gas and crude oil in the North Al Khatatbah onshore area in the Nile Delta.

Additionally, the cabinet approved an amendment to the existing agreement with EGPC, Tharwa Petroleum Company, and the General Petroleum Company (GPC) for oil exploration, development, and exploitation in the Horus Development Area in the Western Desert.

Furthermore, an agreement between EGPC and HPS International Egypt Limited was approved for oil exploration, development, and exploitation in the South Dabaa Development Zone (SD-3) in the Western Desert.