Egypt’s EGAS Signs Agreement with Harbour Energy to Expand Exploration

(3 Minutes Read)

The agreement includes an additional land area with improved commercial terms. Under the new terms, the joint venture company, “DISOUCO”, is granted the right to produce natural gas within the expanded concession, with a commitment to increase drilling activities in the newly included area.

The Egyptian Natural Gas Holding Company (EGAS) has signed an agreement with Harbour Energy to expand exploration and production activities in the Desouq gas field, located within the Nile Delta concession area.

The agreement includes an additional land area with improved commercial terms. Under the new terms, the joint venture company, “DISOUCO”, is granted the right to produce natural gas within the expanded concession, with a commitment to increase drilling activities in the newly included area.

According to a statement from the Ministry of Petroleum, the enhanced agreement framework will support expanded drilling operations across both the current Desouq concession and the newly awarded land, promoting sustainable growth and increased production in the region.

The agreement was signed by Yassin Mohamed, Executive Managing Director of EGAS, and  Sameh Sabry, Regional Director for the Middle East and North Africa at Harbour Energy. Yassin Mohamed emphasised EGAS’s optimism regarding positive exploration results in the new area, with the goal of discovering new reserves of oil and gas and developing them in the future.

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The onshore Desouq gas project, located in the Nile Delta, is managed by DISOUCO, a joint venture between Wintershall Dea Nile, a subsidiary of Harbour Energy, and EGAS.