Forum Farms Out 87.5% Of SW Gebel El-Zeit Permit To Pennzoil
The first Egyptian private company to conclude an oil and gas exploration and production (E&P) agreement in Egypt - namely, Forum Exploration Company, headed by businessman Wafiq al-Jundi - has given an 87.5% working interest in its 212-sq. km. Southwest Gebel El-Zeit offshore tract in the southern Gulf of Suez to Pennzoil Exploration and Production Company of the US. Under the terms of...