Egypt approves Perenco contract for Al-Fayrouz gas search

Egypt’s House of Representatives approved a contract licensing Perenco to search for gas and crude oil in the Al-Fayrouz onshore area of North Sinai.

Perenco, a subsidiary of Egypt Kuwait Holding, has operated the North Sinai concession since 2014. The Al-Fayrouz block was awarded in June 2025 through EGAS’s 2024 global bid round and is a new onshore frontier for the company, which plans a 3D seismic survey and one exploratory well.

The approval was part of a batch of four exploration and development agreements passed by parliament the same day, covering areas in the Eastern Desert, the Nile Delta and the Mediterranean, though those three carried no stated drilling commitments.