The Egyptian Cabinet granted preliminary approval for the Egyptian Natural Petroleum Corporation (EGPC) to supervise the development of the Ras Fanar area, Egypt Oil & Gas reports.

According to the cabinet’s preliminary decision, EGPC will be responsible for supervising oil and gas exploration in Ras Fanar until legislation is passed to codify the development process.

The preliminary approval was granted during the September 6th meeting of the cabinet.

The Ras Fanar area is in the Gulf of Suez.

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