From geopolitical tensions to economic dynamics, a multitude of factors has contributed to the escalation of fuel prices globally.
These draft laws also includes authorizing the Minister of Petroleum and Mineral Resources to contract with the EGPC and HBS International Egypt Limited, to amend the commitment agreement to exploit oil in the southwestern El Alamein region in the Western Desert.
The Geisum-Tawila West field operations are under the management of the PetroGulf Egypt Joint Operating Company, acting on behalf of the Egyptian General Petroleum Corporation, with a 50% stake, in partnership with Cheiron-BECO and Cove Energy, who also hold a 50% stake.
