VOL. XXXVIII

NO.41

10-JULY-1995

Egypt

ONGC Farms Into BG's North Zaafarana Permit

British Gas (BG) and India's Oil and Natural Gas Corporation Videsh Limited(ONGC VL) on 27 June signed a farm-in agreement on one of BG's offshoreexploration concessions, North Zaafarana, in the Gulf of Suez. The agreementfollows a 1993 memorandum of understanding between the two companies todiscuss joint exploration and production opportunities on a world-wide basis.Under the terms of the farm-in agreement, ONGC VL...