Lukoil Is Discussing New Projects In Egypt
Lukoil is interested in expanding its work in Egypt and is discussing new concession areas, the country’s Minister of Petroleum and Natural Resources Tarek El-Molla told reporters.
“They are good partners and they want to increase business in Egypt, they are discussing new concession areas,” he said.
The minister noted that Egypt is currently undergoing another licensing round for oil and gas areas; licensing for it will be completed at the end of March. Answering the question whether Lukoil is interested in participating in it, El-Molla said: “I don’t know, the offers are not open yet. But they are already partners with Egypt, they are already here and want to grow.”
Earlier, the Egyptian parliament approved the conclusion of a contract with the Egyptian General Petroleum Corporation and Lukoil Overseas for oil exploration and production in the Ash al-Mallah region in the east of the country.
Lukoil is already implementing several oil and gas projects in the Arab Republic. In particular, the company is the operator of the WEEM Extension project with a 50% share, participates in the Meleya project (24% share), and in the West Esh El-Mallaha project with a 50% share.
