The House of Representatives’ Energy and Environment Committee has approved a draft law authorizing the Minister of Petroleum and Mineral Resources to sign a concession agreement with the Egyptian Natural Gas Holding Company (EGAS) and Cheiron Egypt Delta Limited for natural gas and crude oil exploration and exploitation in the East Alexandria Offshore Area in the Mediterranean Sea.

The Egyptian General Petroleum Corporation (EGPC), Cheiron Petroleum Corporation, and Capricorn Energy signed a new agreement for the Badr El Din concession in the Western Desert.

The initial natural gas production from the West Burullus field in the Mediterranean Sea has begun, Minister of Petroleum and Mineral Resources Karim Badawi announced.

Badr El Din Petroleum Company (Bapetco) drilled 13 new wells and repaired 39 wells at its concessions in the Western Desert during fiscal year (FY) 2024/2025.

A banking consortium, led by Banque du Caire and comprising Al Baraka Bank Egypt and SAIBANK, has arranged a $75 million syndicated loan to Cheiron Egypt, an arm of the global oil and gas corporation Cheiron.

Cheiron is seeking to produce 70 million cubic feet of natural gas per day from Egypt’s West Burullus concession in the Mediterranean by July.

Cheiron Energy plans to expand its business portfolio in Egypt to include new concession areas

Egypt has signed two agreements worth a combined $340 million with Shell Egypt and Cheiron Energy to boost oil production at the Mediterranean and the Gulf of Suez.

Cheiron Petroleum Corporation is considering increasing its daily oil and natural gas production in Egypt by 20% in 2025 to bring it up to 168,000 equivalent barrels.

Cheiron Petroleum Corporation has invested around $160 million to explore and produce natural gas in the West El Burullus Concession, south-east the Mediterranean.

Cheiron Energy has announced a new oil discovery in the Geisum and Tawila West concession in the Gulf of Suez.