EGPC Signs Concession Agreements with Amoco and Royal Dutch/Shell
The Egyptian General Petroleum Corporation (EGPC) has signed two oil production-sharing concession agreements with Amoco and Royal Dutch/Shell.
The agreement with Amoco covers 700 sq. kms. of onshore acreage at Darag in the northern part of theGulf of Suez and provides for a signature bonus of $1mn and an exploration obligation of $16.7mn over 8 years - $5.9mn in an initial 4-year period and...