The Egyptian Cabinet has approved five petroleum commitment agreements with global and local companies, with expected investments totaling around $200 million. The agreements are expected to boost oil and gas exploration and production in the country.

The approval of these agreements is expected to contribute to Egypt's efforts to increase its oil and gas reserves and production, and to meet the growing demand for energy in the country.

The agreements are part of the government's strategy to attract foreign investment in the oil and gas sector, and to develop the country's natural resources.

The agreements include:

1. A commitment agreement for the exploration and exploitation of natural gas and crude oil in the North Port Fouad marine area in the Mediterranean Sea, between the Arab Republic of Egypt, the Egyptian Natural Gas Holding Company, and Ioc Production B.V.

2. A commitment agreement for the exploration and exploitation of natural gas and crude oil in the South Nour marine area in the Mediterranean Sea, between the Arab Republic of Egypt, the Egyptian Natural Gas Holding Company, and VIEOC Production B.V.

3. Another commitment agreement for the exploration and exploitation of natural gas and crude oil in the Ard North Al-Khatatba area in the Nile Delta, between the Arab Republic of Egypt, the Egyptian Natural Gas Holding Company, and ZN BV.

4. An amendment to the commitment agreement for the exploration, development, and exploitation of petroleum in the Horus Development Zone in the Western Desert, issued by Law No. 105 of 2014, between the Arab Republic of Egypt, the Egyptian General Petroleum Corporation, Tharwa Petroleum Company, and the General Petroleum Corporation.

5. A commitment agreement for the exploration, development, and exploitation of petroleum in the South Dabaa Development Zone (SD-3) in the Western Desert, between the Arab Republic of Egypt, the Egyptian General Petroleum Corporation, and HPS Global Egypt Limited.