Ahmad 
Egypt’s Minister of Oil and Natural Resources, Tarek El Molla, announced that the Russian company Lukoil is showing interest in expanding its business in Egypt, where the possibility of obtaining concessions in new areas is currently being discussed.
El Molla added during a press release: “They are good partners and want to strengthen their business in Egypt, where the opening of new concession areas is currently being discussed.”
The minister noted that new licenses are currently being issued in Egypt for oil and gas areas, and the license is expected to expire at the end of March.
Asked about Lukoil’s desire to participate, El Molla said: “I don’t know, the offers are still not available, but they are reliable partners in Egypt and want to expand.”
It is noteworthy that the Egyptian parliament previously agreed to sign a contract with the companies “Egyptian General Petroleum Corporation” and “Lukoil Overseas” to explore and extract oil in the area of the nest of navigation in the east of the country.
Lukoil is currently working on several oil and gas projects in Egypt, with a 50% operator in the WEEM Extension project, a 24% participant in the Melia project, and a 50% stake in the West Esh Al Milaha project.