The Gazette also announced the President’s ratification of Law No. 163 of 2025, granting authorization to the Minister of Petroleum and Mineral Resources to contract with EGPC and Dragon Oil Egypt Holding 1 Limited to explore for and exploit petroleum in the East Al-Hamad area in the Gulf of Suez.
The Official Gazette published President Abdel Fattah El-Sisi’s ratification of Law No. 81 of 2025, authorizing the Minister of Petroleum and Mineral Resources to contract with the Egyptian General Petroleum Corporation (EGPC) and a group of companies affiliated with Perenco North Sinai Petroleum Inc., including Perenco North Sinai Oil Limited, Perenco North Sinai Gas Limited, and Perenco Resources Egypt Limited, to explore for, develop, and exploit petroleum in the North Sinai Offshore Development Area.
The Gazette also announced the President’s ratification of Law No. 163 of 2025, granting authorization to the Minister of Petroleum and Mineral Resources to contract with EGPC and Dragon Oil Egypt Holding 1 Limited to explore for and exploit petroleum in the East Al-Hamad area in the Gulf of Suez.
Earlier in March, President Abdel Fattah El-Sisi reaffirmed the government’s commitment to settling all outstanding payments owed to foreign partners in the oil and gas sectors within the next few months, underscoring Egypt’s determination to maintain investor confidence and support ongoing energy projects.
The statement came during a meeting between President El-Sisi and a delegation from ExxonMobil, led by Vice President responsible for Global Frontier Exploration at ExxonMobil John Ardil, to review the company’s ongoing exploration activities across Egypt’s onshore and offshore territories.
