Egypt

Egypt's cabinet approves draft law on oil exploration in western desert

Published on : 2024-01-18

Egypt's cabinet has approved a draft law authorising oil exploration in the Ras Qattara development area in the western desert, the cabinet said in a statement on Wednesday.

According to the draft law, the petroleum ministry will enter into a contract with the Egyptian General Petroleum Corporation, Apex International Energy and INA for oil exploration and development in the designated area.

ADES wins jackup drilling contract in Egypt

Saudi-listed ADES Holding Company said it has received a direct award of contract (DAC) from Suez Oil Company (SUCO) in Egypt for three jackup drilling rigs in the Gulf of Suez, which is expected to commence in the coming weeks.