The Egyptian government has finalised five oil and gas drilling and exploration agreements with local and international oil companies (IOCs), according to Minister of Petroleum & Mineral Resources Tarek el-Molla.

Four of the deals are for offshore Mediterranean gas exploration and drilling agreements between state-controlled Egyptian Natural Gas Holding Company (Egas) and the UK’s BP, Italy’s Eni, France’s Total, and Edison from the US.

An oil drilling deal in the Gulf of Suez has also been signed between Egyptian General Petroleum Corporation (EGPC) and the local Trident Petroleum, news agency Reuters reported.

Egypt, the most populous Arab nation, was once an energy exporter, but declining production and a rise in consumption has made the country a net importer. It currently produces about 3.9 billion cubic feet a day (cf/d) of gas and imports another 1-1.1 billion cf/d.

The government is trying to boost production to plug the widening energy gap. Ganoub El-Wadi Petroleum Holding Company (Ganope), another government-owned entity, recently issued a tender for oil and gas drilling and exploration in the Gulf of Suez and Sinai.

The tender includes areas of West Gabal El-Zeit, South East Ghara and South Sinai, in addition to another five areas in the Western Desert, according to El-Molla.

This is the second tender issued in Egypt’s energy sector this year to attract new global investments, particularly for oil and gas drilling and explorations, the minister said.