en.Wedoany.com Reported - The Egyptian Parliament has officially approved four oil and gas exploration and development agreements, one of which involves a project in the North Sinai region by Perenco, an independent producer from France and the United Kingdom.

Egypt is striving to boost domestic energy production, as the country's energy output has long struggled to keep pace with continuously growing demand, while regional tensions further pressure the global liquefied natural gas market.

According to Egyptian media reports, the approved agreements cover exploration and production activities in the North Sinai, Nile Delta, Mediterranean, and Eastern Desert regions. One of the agreements allows state-owned Egyptian Natural Gas Holding Company (EGAS) to jointly explore the Al-Fayrouz onshore block in North Sinai with Perenco North Sinai Petroleum Inc.

Perenco North Sinai Petroleum, a subsidiary of Egypt Kuwait Holding, has operated concessions in the North Sinai region since 2014. The Al-Fayrouz block was acquired by the company in June 2025 through EGAS's 2024 global bid round, representing a new onshore frontier area where 3D seismic surveys and the drilling of one exploration well are planned.

The oil market remains closely focused on security risks in the Middle East. Reuters reported this month that Iran has asked its backed Houthi forces to prepare to close the Bab el-Mandeb Strait in the event of a US attack on Iran's power infrastructure, a development highlighting the vulnerability of key global energy trade routes.