Egyptian Natural Gas Holding Company and Perenco North Sinai Petroleum sign development agreement for Al‑Fayrouz block

Type: Development · Technology: Oil Gas · Country: Egypt · Announced: 2026-07-22

Egyptian Natural Gas Holding Company and Perenco North Sinai Petroleum Inc. signed a development agreement to explore the Al‑Fayrouz onshore block in North Sinai. The agreement, approved by Egypt’s parliament on 22 July 2026, authorizes a 3‑D seismic survey and the drilling of one exploratory well. The Al‑Fayrouz block was awarded in June 2025 through EGAS’s 2024 global bid round, marking Perenco’s first onshore frontier in the region. The deal supports Egypt’s goal to increase domestic oil and gas output amid rising demand and regional security tensions. The partnership aligns with Perenco’s long‑term operation of the North Sinai concession since 2014 and expands its portfolio of Egyptian assets. No financial terms were disclosed, and the agreement is part of four exploration contracts approved simultaneously.

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