PHOTO
The Petroleum Pipelines Company (PPC) is seen during sunset along a highway of Alexandria, Egypt September 26, 2021. Amr Abdallah Dalsh. REUTERS
Egypt has signed two agreements worth $13.5 million to boost crude oil production at the Western Desert, as per a statement.
During the Egypt Energy Show (EGYPES 2025), Minister of Petroleum and Mineral Resources Karim Badawi oversaw the signing, which included an amendment to the Yidma concession agreement with IPR and a new agreement for the South Dabaa area with Tunisia’s HBS.
The revised Yidma concession agreement between the Egyptian General Petroleum Corporation (EGPC) and IPR involves a $10 million investment for drilling four development wells, along with a $3 million grant.
The South Dabaa agreement includes a $3.5 million investment for four development wells and an exploratory well, with a $2 million grant.
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