CAIRO, July 23 – Egypt’s parliament has approved four oil and gas exploration and development agreements, advancing the country’s efforts to strengthen domestic energy production amid rising energy demand and tighter global liquefied natural gas (LNG) markets.
The agreements cover exploration and production activities across North Sinai, the Nile Delta, the Mediterranean Sea and Egypt’s Eastern Desert, expanding upstream investment in several of the country’s key hydrocarbon regions.
One of the approved agreements authorises the Egyptian Natural Gas Holding Company (EGAS) and Perenco North Sinai Petroleum Inc. to undertake exploration activities in the Al-Fayrouz onshore block in North Sinai.
The project forms part of Egypt’s broader strategy to increase natural gas production as domestic demand continues to outpace supply and regional geopolitical tensions add pressure to international LNG markets.
Perenco North Sinai Petroleum, a subsidiary of Egypt Kuwait Holding, has operated the North Sinai concession since 2014. The Al-Fayrouz block was awarded to the company in June 2025 under EGAS’s 2024 global bid round, marking a new onshore exploration frontier for the operator.
Under the agreement, the company plans to undertake a 3D seismic survey and drill one exploratory well to assess the area’s hydrocarbon potential.
The latest approvals underscore Egypt’s continued focus on attracting investment into its upstream energy sector while expanding domestic oil and gas production to enhance energy security, reduce reliance on imports and support long-term economic growth.
