Egypt signs five oil deals
Posted: 15 August 2005
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Egyptian Oil Minister Sameh Fahmy signed five oil deals or concession amendments with companies from the United States , Australia , Japan , Britain and India .
The deals covered concessions in the Gulf of Suez and the Western Desert and included obligations by the energy firms to spend at least $109.5 million and to dig 23 wells.
The deals were:
- Exploration and production deal in the Western Desert area between state-owned Egyptian General Petroleum Corp (EGPC) and Japan 's Teikoku Oil Co, Devon Energy of the United States and Australia 's Santos Ltd
- Exploration and production deal in the Gulf of Suez area between EGPC, a U.S. firm and India 's ONGC Videsh.
- Exploration and production deal in the Gulf of Suez area between EGPC and Japan 's Teikoku Oil Co and a U.S. firm.
- Amendment to an exploration and production deal in the Western Desert area between EGPC and a U.S. firm.
- agreement for exploration and production deal in the Gulf of Suez area between Ganoub El-Wadi Holding Petroleum Company (GANOPE) and Britain's Burren Energy Plc
Posted by Editor Pipeline Magazine
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