Egypt approves N. Sinai concession expansion

Egypt’s Ministry of Petroleum and Mineral Resources has granted the North Sinai Petroleum Company, an Egypt Kuwait Holding Company subsidy, the permission to expand the concession areas and convert the added exploration area into a development contract. The production in the ATON-1 area is set to begin next September.
Notably, the company’s investment in exploration and development in the North Sinai field amounted to $24 million from 2017 until now, with an additional approx. 212 billion cubic feet of natural gas reserves.