President Abdel Fattah El Sisi issued on Thursday a decree exempting a Liberian shareholding company from the required Egyptian percentage in its capital in order to implement a joint oil agreement.

The Vegas Oil & Gas had signed a deal with the Egyptian government and the Egyptian General Petroleum Corporation (EGPC) for oil excavation in the Lagia oilfield in Sinai.

Sisi issued another decree reallocating state-owned lands in Assiut, Minya and Red Sea governorates to the New Urban Communities Authority.

In another decree, Sisi ordered the deputy minister of housing for urban development to assume some tasks related to upgrading urban environment and developing comprehensive national plans to build suitable houses for slum-dwellers. 

The decrees were published in the official gazette.

Source: MENA