EGPC Signs Oil Concession Agreement With Shell
Eng. Abd al-Khaliq Ayyad, Chairman of the Egyptian General Petroleum Corporation(EGPC), on 5 April signed an oil and gas exploration and production-sharing agreement withShell for the 196-sq. km. offshore North Rahmi tract (block N) in the northern part of theGulf of Suez. The agreement provides for a signature bonus of $500,000 and an explorationexpenditure of $22mn, including the drilling of four wells and...