Middle East Economic Survey

VOL. XLVIII

No 33

15-August-2005

EGYPT

Egypt Signs Five Hydrocarbon Agreements

Egypts Ministry of Petroleum on 5 August announced that Minister Sameh Fahmy had signed five agreements with foreign energy companies covering concessions in the Gulf of Suez and the Western Desert worth some $109.5mn in investment and $4.85mn in signature bonuses. The deals cover a total area of 6,679 sq km and call for drilling an aggregate of 23 wells. The deals include:

  • An exploration...