VOL. XLVI
No 26
30-June-2003
EGYPT
Lukoil Wins Two Gulf Of Suez Exploration Blocks
Lukoil, through its local subsidiary Lukoil Overseas Egypt, has signed a concession agreement with the government for two exploration blocks in the Gulf of Suez tendered in the 2002 licensing round (MEES, 20 May 2002). The company, which paid a $1mn signature bonus for the blocks, will spend $10.4mn drilling three wells and reprocessing 3D seismic data for the 82 sq km Northeast Geisum block and will spend an...
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