National Assembly Approves Esso, IEOC and TPIC Concession Agreements
On 10 June, the Egyptian People's Assembly (parliament) approved the termsof three production-sharing concession agreements with Esso, the Agip subsidiaryInternational Egyptian Oil Company (IEOC), and the Turkish PetroleumCorporation's affiliate Turkish Petroleum International Company (TPIC).
The Esso agreement covers the 480-sq. km. onshore South Hurghada tract(northern part of block A1 - MEES...