Cairo: Petroleum Minister Karim Badawi witnessed the signing of an agreement between the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and international partners BP and Harbor Energy. The agreement aims to establish an executive framework for developing oil and gas reserves in North King Mariout and the Arish field in the Mediterranean, with the objective of boosting production rates.

According to State Information Service Egypt, the agreement enables the joint development of the Arish field under the North Alexandria concession with EGPC and the North King Mariout area under EGAS. This collaboration seeks to maximize economic returns through operational integration between the two areas.

The memorandum was signed by Salah Abdel Karim, CEO of EGPC; Sayed Selim, Managing Director and CEO of EGAS; Wael Shaheen, Chairman of BP Egypt; and Sameh Sabry, Executive Director of Harbor Energy for the Middle East and North Africa region.

Following the signing, the minister stated that this move reflects integrated efforts with investment partners to accelerate gas production projects under the sector's five-year plan, while also unlocking untapped discoveries. He noted that the partnership is built on strong collaboration and teamwork, highlighting its proven success in managing assets in North Alexandria and West Nile Delta.

He emphasized that this cooperation has significantly improved performance and results, and stressed the importance of expanding it further. He also highlighted the need for continued technical coordination between all field teams, including drilling engineers, to enhance operational efficiency, speed up development plans, and achieve stronger outcomes in the coming phase.