Egypt’s parliament has ratified four oil and gas exploration and production agreements spanning North Sinai, the Nile Delta, the Mediterranean Sea and the Eastern Desert, including a new onshore concession in North Sinai involving Perenco North Sinai Petroleum.
Under the key agreement, the Egyptian Natural Gas Holding Company will partner with Perenco North Sinai Petroleum, a subsidiary of Valmore Holding, formerly known as Egypt Kuwait Holding, to explore the Al-Fayrouz onshore block. Perenco has operated on the North Sinai concession since 2014, giving it existing subsurface knowledge of the area.
The Al-Fayrouz block was awarded in June 2025 through EGAS’s 2024 international bid round, and the planned work programme includes a 3D seismic survey and one exploration well. The ratification of four agreements in a single session reflects the pace at which Cairo is converting bid-round awards into binding concessions, as Egypt works to reverse its shift from net gas exporter to net importer by expanding its exploration frontier into both established Mediterranean plays and onshore acreage.
Source: egyptoil-gas.com, businessfront.com