The Egyptian General Petroleum Corporation (EGPC); and the Egyptian Natural Gas Holding Company (EGAS) signed a new agreement with Italy’s Eni, represented by its Egyptian subsidiary, the International Egyptian Oil Company (IEOC) ; and British bp, to begin exploration activities in the Mediterranean Sea.
The agreement includes drilling an exploratory well in the Temsah concession area in the coming months, as part of plan to enhance natural gas exploration and support opportunities for discoveries.
The agreement was signed by Salah Abdel Kerim, EGPC’ Chairman; Yassin Mohamed, EGAS’ Chairman; Francesco Gaspari, General Manager of Eni in Egypt, and Wail Shaheen, Regional Vice President of bp in Egypt. The signing took place in the presence of Karim Badawi, Minister of Petroleum and Mineral Resources, and Martina Opizzi, Head of North Africa and Levant Region at Eni.
Eni plays a significant role in Egypt’s energy sector, with activities spanning across several areas. The company is actively involved in the development and production of hydrocarbons and the implementation of various gas projects. In addition, Eni participates in the refining and marketing of crude oil products and is a key partner in the Damietta natural gas liquefaction plant. Through these efforts, Eni contributes to both the growth and the decarbonization of Egypt’s energy sector.
Meanwhile, BP has a long-standing and significant presence in Egypt, operating for over 60 years with substantial investments in the country’s energy sector. The company’s primary activities are focused on natural gas exploration, development, and production.
