Oil Minister Signs Four New E&P Concession Agreements
Egyptian Oil Minister Hamdi al-Banbi on 28 April signed four new oil and gasexploration and production-sharing concession agreements. These are as follows:
Northwest Damietta (Block L): 901 sq. kms. offshore north of Damietta in the Mediterranean was awarded to Shell Egypt (operator) and Italy's Edison International. The agreement provides for an exploration commitment of $19mn and three wells, a...