The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) have signed a new agreement with Eni’s IEOC and BP, introducing incentivized terms to kickstart natural gas exploration activities in the Mediterranean Sea.

According to an official statement, the agreement includes the drilling of an exploratory well in the Temsah concession area in the coming months, as part of Egypt’s efforts to boost natural gas exploration and unlock new discoveries.

Minister of Petroleum and Mineral Resources, Karim Badawi, emphasized that the deal aligns with the first pillar of the ministry’s strategy: increasing domestic oil and gas production to meet local demand by intensifying exploration activities in promising offshore areas.

He noted that the Temsah concession reflects a long-standing partnership between EGPC, EGAS, and international partners, supported by advanced technical capabilities and accumulated expertise.

The minister also stressed the importance of leveraging cutting-edge technologies from Eni and BP to unlock new resources that benefit the state and all stakeholders involved.