Middle East Economic Survey

VOL. XLVII

No 24

14-June-2004

EGYPT

Egyptian Parliament Approves Concession Agreements

The Egyptian parliament has approved nine upstream concession agreements reached with Egyptian and international oil companies. According to an oil ministry statement, the total work commitment of the nine blocks is worth $152.5mn and will require the drilling of 43 wells. Egypts newly-established Tharwa Petroleum won five concessions in the Western Desert and offshore in the...