El-Sisi approves petroleum deals covering North Sinai offshore, Gulf of Suez

CAIRO - 16 April 2026: The Official Gazette announced that President Abdel Fattah El-Sisi has approved Law No. 81 of 2025, enabling the Minister of Petroleum and Mineral Resources to sign agreements with the Egyptian General Petroleum Corporation (EGPC) and a consortium of companies affiliated with Perenco North Sinai Petroleum Inc. These include Perenco North Sinai Oil Limited, Perenco North Sinai Gas Limited, and Perenco Resources Egypt Limited, to carry out petroleum exploration, development, and production activities in the North Sinai offshore development zone.

In a separate decision, the Gazette confirmed the President’s ratification of Law No. 163 of 2025, authorizing the Minister of Petroleum and Mineral Resources to enter into a contract with EGPC and Dragon Oil Egypt Holding 1 Limited to explore for and produce petroleum in the East Al-Hamad area of the Gulf of Suez.

Earlier in March, President El-Sisi reiterated the government’s commitment to clearing all outstanding dues to foreign oil and gas partners within the coming months, highlighting Egypt’s focus on sustaining investor confidence and ensuring the continuity of major energy investments.

The remarks were made during a meeting between President El-Sisi and a delegation from ExxonMobil, headed by John Ardil, Vice President for Global Frontier Exploration, where discussions focused on the company’s current exploration operations across Egypt’s onshore and offshore fields.