EGPC Approves Ten Concession Agreements
The Egyptian General Petroleum Corporation (EGPC) has approved concessionagreements for 10 exploration blocks it offered in 1994. Five agreements wereapproved by the EGPC Board at the end of December and five earlier this month.The 10 agreements cover an area of 64,250 sq. kms. and provide for explorationexpenditures of some $309mn, including the drilling of 71 wells and payment of$11.5mn in signature bonuses. The...