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Exploration & Production

Foreign players race to sign gas agreements in Egypt

Gas explorers and producers in Egypt are rushing to sign deals before the inauguration of the country’s first parliament in more than two years in December Gas explorers and producers in Egypt are rushing to sign deals before the inauguration of the country’s first parliament in more than two years in December.
By Rachel Williamson 5 November 2015 0 18200
Egyptian President Abdel Fattah el-Sisi approved six exploration contracts worth $2.2 billion this week. (PA)

Gas explorers and producers in Egypt have been rushing to sign deals before the inauguration of the country’s first parliament in over two years.

President Abdel Fattah el-Sisi approved six oil and gas exploration contracts worth $2.2 billion on Tuesday that had been agreed at a March investment conference. This brings the number of contracts signed over the past two years to 54.

Ahmed Moaaz, country manager for SDX Energy (formerly known as Sea Dragon Energy) said that, although the agreements approved on Tuesday had been signed...