Egypt Concludes Oil Exploration Deals with IEOC, Phillips and Amoco
On 12 January Egyptian Oil Minister Abd El-Hady Kandil signed an oil and gasproduction-sharing agreement with a group headed by the ENI/Agip subsidiary IEOCfor the 2,640-sq. km. Kanayes concession in Egypt's Western Desert. The terms ofthe agreement, which was initialed back in 1986 (MEES, 19 May 1986), have nowbeen amended to incorporate Egypt's new incentive provisions on cost recoveryand...