VOL. XLVI

No 28

14-July-2003

EGYPT

Egyptian Government To Form Oil/Gas E&P Company

The Egyptian government has announced plans to establish an oil/natural gas exploration and production (E&P) company capitalized at $100mn, of which $30mn will be paid-up capital. The decision to form the company was taken after a meeting on 21 June between Prime Minister AtifUbaid and Oil Minister Samih Fahmy. The latter said the new company would develop Egypts hydrocarbon resources to meet the needs of...