Sisi Approves New Oil Exploration Agreements in Egypt

Egyptian President Abdel Fattah El-Sisi has approved two new laws authorising petroleum exploration and development agreements in the Western Desert and the Gulf of Suez, according to Egypt’s Official Gazette.

Under Law No. 159 of 2025, the president authorised the Minister of Petroleum and Mineral Resources to conclude an agreement between the Egyptian General Petroleum Corporation and Tierra Petroleum Ltd for oil exploration and exploitation in the North West Maghra area of Egypt’s Western Desert.

The Official Gazette also published Law No. 162 of 2025, which authorises the petroleum minister to sign an agreement between the Egyptian General Petroleum Corporation and Pico Gemsa Petroleum Company Limited for the exploration, development and exploitation of petroleum resources in the East Gemsa offshore area in the Gulf of Suez.

The new agreements form part of Egypt’s broader strategy to expand oil and gas exploration activities, attract foreign investment into the energy sector and increase domestic production to support economic growth and energy security.

Egypt has continued to promote exploration opportunities in the Western Desert and the Gulf of Suez, both of which remain among the country’s most important hydrocarbon-producing regions.