CAIRO – 20 February 2025: At the Egypt Energy Show (EGYPES 2025), the Egyptian General Petroleum Corporation (EGPC) signed agreements aimed at boosting oil exploration and production in the Western Desert.
As part of these deals, EGPC and IPR International finalized an agreement for the Yidma-Alamein block, under which IPR will invest $10 million, drill four development wells, and provide a $3 million signature bonus to support exploration and development efforts.
Additionally, a separate agreement was signed for the South Dabaa block between EGPC and Tunisia’s HBS Company. This deal includes an investment of $3.5 million, the drilling of four development wells and one exploratory well, and a $2 million signature bonus.
These agreements align with Egypt’s strategy to attract foreign investment and maximize the potential of its Western Desert oil reserves.