Egypt’s government approved four draft concession agreements on Thursday for oil and gas exploration, with minimum investments of around $52.97 million and the drilling of at least six wells.

The agreements include a draft concession for the exploration and production of natural gas and crude oil in the East Alexandria Offshore area in the Mediterranean Sea, between Egypt, the Egyptian Natural Gas Holding Company (EGAS), and Chiron Egypt Delta Limited.

They also include a draft concession agreement for the exploration and production of natural gas and crude oil in the North Tanta Onshore area in the Nile Delta, between Egypt, EGAS, and IPR South Disouq Limited.

Another agreement covers the exploration and production of natural gas and crude oil in the Al Fayrouz Onshore area in North Sinai, between Egypt, EGAS, and Prenco North Sinai Petroleum Inc.

The fourth draft agreement is for the exploration, development, and production of oil in the Asran field development area in North Amer in the Eastern Desert, between Egypt and the General Petroleum Company.