Petro Kareem will produce oil and gas from a lease within the North Zeit Bay concession, located onshore in the Gulf of Suez.

BBC: Dana Petroleum Egypt joint venture approved

Dana also announced it had bid successfully for a field block in the southern part of the Sinai Peninsula, east of the Gulf of Suez.

BBC: Dana Petroleum worker at North Zeit Bay operation

By Saturday morning, according to official Egyptian news agencies, armored military vehicles could be seen deployed throughout Suez, a city of about 500, 000 on the north coast of the Gulf of Suez.

CNN: STORY HIGHLIGHTS

Egypt has a lucrative industry from the shipping traffic in the Suez Canal, but it is concerned about shipping firms pursuing other routes to avoid the Gulf of Aden.

CNN: Red Sea nations condemn pirates, vow action