Perenco North Sinai pens deal to reassign North Sinai Offshore concession
Updated 10/2/2025 12:30:00 PMArab Finance: Perenco North Sinai Petroleum, a subsidiary of Egypt Kuwait Holding, has signed a new agreement with the Ministry of Petroleum and Mineral Resources to reassign the North Sinai Offshore concession, according to a press release.
The concession has been reassigned for a 10-year term, extending until 2035. It covers the drilling of three exploratory wells for oil and natural gas in the North Sinai Offshore concession area.
The announcement coincided with Minister of Petroleum and Mineral Resources Karim Badawi’s visit to the company’s onshore and offshore facilities in North Sinai.
Under the agreement, the North Sinai offshore area is being reassigned to Perenco North Sinai, securing new opportunities for exploration and reserve development.
The partnership aligns with Egypt’s strategy to maximize production rates in the coming years.
Jon Rokk, CEO of Egypt Kuwait Holding, commented on the signing: “leveraging our strong track record and global partnerships, we are creating new exploration opportunities, transferring know-how, and generating high-value jobs for Egyptian youth.”
Rokk added: “Our commitment remains to deliver growth that is both sustainable and impactful, ensuring Egypt’s energy sector continues to compete on a world-class level.”
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