Middle East Economic Survey

VOL. XLVIII

No 31

1-August-2005

EGYPT

Teikoku Extends Contract For Egypts West Bakr Block

Japans Teikoku Oil on 27 July announced that its subsidiary, the Egyptian Petroleum Development Company (Epedeco), had extended by 10 years its production-sharing contract (PSC) for the onshore West Bakr Block. The existing PSC had been due to expire in April 2010. The new agreement provides for an additional extension of five years after 2020. Tekuko said that since production...