The Egyptian Petroleum Holding Company (Ganope) has signed a new concession agreement with Russia's Lukoil Overseas Holding Ltd. for oil exploration and exploitation in the South Wadi El Sahel area of Egypt's Eastern Desert. Under the agreement, Lukoil will carry out a 3D seismic survey over 200 square kilometres and drill six exploratory wells in the initial exploration phase. The company also plans to implement an integrated exploration and development programme in both the South Wadi El Sahel and Wadi El Sahel areas. In addition, Lukoil will continue operations in the adjacent West Esh El Mallaha development area and maintain its partnership with Eni in the Meleiha Integrated Development Area in the Western Desert, where it has recently achieved several successful discoveries. Notably, the deal aligns with the Ministry of Petroleum's strategy to meet domestic demand for petroleum products at the lowest cost by increasing production and expanding exploration and drilling activities. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
