Middle East Economic Survey


No 21



Egypt Signs Eight Oil Agreements

Egyptian Oil Minister Sameh Fahmy has recently signed eight new oil exploration agreements covering 16,000 sq km and calling for an overall investment of $686mn with the drilling of 26 oil wells. Four of the agreements were with Apache Corp of the US, which operates the Khalda concession, covering the Shushan, North Tarek, West Kanayis and West Kalabsha blocks, a total area of 6,905 sq km in the Western...