URGENT: Egypt signs $13.5m agreements to boost crude oil production in Western Desert

Egypt signed two agreements worth a total of $13.5 million to boost crude oil production in the Western Desert on Wednesday, on the sidelines of The Egypt Energy Show (EGYPES 2025).

Minister of Petroleum and Mineral Resources Karim Badawy witnessed the signing of an amendment to the Alamein-Yidma concession agreement between the Egyptian General Petroleum Corporation (EGPC) and Texas-based IPR Energy Group (IPR). He also witnessed the signing a new agreement for the South Dabaa area between EGPC and Tunisia’s HBS.

For the Alamein-Yidma concession agreement, the amendment includes $10 million in investments, along with the drilling of four development wells and a $3 million signing bonus.

Similarly, the South Dabaa concession agreement entails around $3.5 million in investments, covering the drilling of four development wells and one exploratory well, in addition to a $2 million signing bonus.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser