EGPC approved to develop Suez Canal’s Ras Fanar region

CAIRO – 7 September 2017: The cabinet approved Wednesday assigning the development of the Suez Canal’s Ras Fanar region to the Egyptian General Petroleum Corporation (EGPC).

According to the decision, EGPC is tasked with supervising the operations of oil and gas exploration in the region till the legislative procedures would be completed to enact a special law handling the zone.

This comes amid the increasing demand on the petroleum products and need in the local market for these products for development purposes.