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Egypt Kuwait Holding secures major drilling rights in Egypt

Egypt Kuwait Holding Co. is emerging as a key player in Egypt’s latest push to expand oil and gas production, after its subsidiary Parenco Egypt secured rights to drill offshore North Sinai under one of three new exploration agreements worth more than $121 million.The deal, announced by Egypt’s petroleum ministry, re-awards Parenco the North Sinai offshore block and calls for three new wells. Dubai-based Dragon Oil and U.S. producer Apache signe…
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Billionaires.Africa broke the news in on Wednesday, September 17, 2025.
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