17:29 - 10.02.2025

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February 10, Fineko/abc.az. The Egyptian government has granted the right to Lukoil to participate in a concession specializing in development of oilfields on the western shore of the Gulf of Suez, ABC.AZ reports, referring to the Ministry of Petroleum & Mineral Resources of Egypt, distributed on its official Internet portal Egypt Upstream Gateway (EUG).

The Russian company will participate in the development of the South Wadi es Sahl concession area. It is located west of Hurghada.

Lukoil is already implementing a range of oil and gas projects in Egypt. In particular, the company is the operator of the WEEM Extension Project with a 50% share, participates in the Medea project (24% share), and in the West Esh El-Mallaha project with a 50% share.