VOL. XXXVIII

NO. 49

4-SEPTEMBER-1995

Egypt

Joint Operating Company Set Up To Develop Phoenix's Qarun Discovery

A joint operating company, called Qarun Petroleum Company, has beenestablished to develop and produce Phoenix's oil discoveries in the Qarunconcession area southwest of Cairo. This is in line with Egypt's concessionagreements which provide for the establishment of a joint operating companyowned 50% by the Egyptian General Petroleum Corporation (EGPC) and 50% byforeign partners to develop...