Arab Finance: The Egyptian General Petroleum Corporation (EGPC) and Eni have signed a memorandum of intent to renew the commitment to the North Port Said concession, as per a statement issued by the Egyptian Ministry of Petroleum and Mineral Resources.
The agreement reflects mutual confidence and a shared objective to expand strategic cooperation between the two sides.
The commitment covers the North Port Said concessions alongside the strategic El Gamil facilities, which serve as a key gas processing hub for both current and future projects in the region.
The memorandum sets out the main principles of the future work program.
It serves as a preliminary step toward subsequent agreements to establish a framework for new investment commitments in the area.
