Egypt approves oil and gas production from expired contracts
Egypt’s cabinet approved continued oil and natural gas production from development areas and contracts that have expired or are nearing the end of their validity periods. The decision included giving foreign nationals one year to legalize residency.
Egypt's cabinet approved continued oil and natural-gas production from development areas and contracts that have expired or are nearing the end of their validity periods, according to a statement. The decision was taken because economically recoverable reserves remain in those areas.