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Cheiron granted new oil concession in Suez

Summary by Pumps Africa
The government of Egypt has awarded a new oil concession to Cheiron, formerly known as PICO International Petroleum, as part of a broader strategy to boost exploration and reverse declining production. The deal which aims to strengthen Egypt’s hydrocarbon output will see Cheiron invest more than US $30M to drill four offshore wells in the […] The post Cheiron granted new oil concession in Suez appeared first on Pumps Africa.
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Pumps Africa broke the news in on Tuesday, December 9, 2025.
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