The Egyptian Parliament Approved a Deal With Lukoil Overseas for Oil Exploration and Production
Ahmed al-Awadi, Chairman of the Committee on Defense and National Security in the Egyptian Parliament, said that the agreement is being implemented as part of his country’s oil and gas sector development strategy.
The House of Representatives (lower house of parliament) of Egypt approved a bill allowing the Minister of Oil of the Republic, Tariq al-Mulla, to enter into a contract with the Egyptian General Petroleum Corporation and Lukoil Overseas for oil exploration and production in the desert in the east of the country. This was reported by the Al-Youm as-Sabia portal.
The project involves the exploration and development of oil fields in the Ash al-Mallah region near the city of Hurghada. Ahmed al-Awadi, Chairman of the Committee on Defense and National Security in the Egyptian Parliament, noted that the agreement is being implemented as part of the development strategy for Egypt’s oil and gas sector.
Lukoil is already implementing a number of oil and gas projects in the Arab Republic. In particular, the company is involved in the Meleya project in the Western Desert, the development of the West Ash al-Mallah block in the Eastern Desert and its expansion project.
