Middle East Economic Survey


No 31



AOC Plans Crude Production Agreement With Egypt

Japans Arabian Oil Company (AOC) intends to sign a production-sharing contract (PSC) with the Egyptian government before the end of July for the offshore Northwest October Block, located in the Gulf of Suez. A company spokesman in Tokyo on 25 July said that AOC expected to begin production in late 2007 at a rate of 6,000 b/d. Last February AOC acquired development rights to the block...