EGAS and BP Join Forces to Enhance Mediterranean Gas Exploration

The Egyptian Natural Gas Holding Company (EGAS) has entered into a preliminary agreement with BP to drill five new gas wells in the Mediterranean Sea, as announced by Egypt's Petroleum Ministry. The collaboration aims to enhance exploration and production, supporting the ministry's broader efforts in the energy sector.

The Egyptian Natural Gas Holding Company (EGAS) has taken a significant step towards enhancing its capabilities in gas exploration by signing a preliminary agreement with energy giant BP. The deal involves the drilling of five new gas wells in the Mediterranean Sea.

According to a statement released by Egypt's Petroleum Ministry on Monday, the memorandum of understanding aligns with the ministry's ongoing initiative to bolster the country's exploration and production activities.

This partnership underscores EGAS's commitment to developing the energy sector, tapping into the potential of the Mediterranean resources and fostering collaboration with key international players.

(With inputs from agencies.)