EGYPT

EGPC Approves Five New Oil Agreements

The Egyptian General Petroleum Corporation has approved five new oil production-sharing concession agreements covering onshore and offshore acreage in the Gulf of Suez basin. One agreement with Amoco is for a tract at North October. Two agreements with the ENI subsidiary International Egyptian Oil Company (IEOC) are for acreage at Ranim and Nazzazat. An agreement with BP is for acreage at Abu Zenima and another with Royal Dutch/Shell is for a...