Banbi Signs Five New Concession Agreements
On 8 June, Egyptian Oil Minister Hamdi al-Banbi signed five new oil and gas production-sharing concession agreements and two amendments to existing agreements. The new agreements comprise two with Amoco, two with Repsol and one with Marathon, as follows:
- Amoco: 82 sq. kms. at Northwest Abu al-Gharadiq in the Western Desert. The company is required to spend $3.9mn on exploration, including the...