VOL. XXXVII

NO. 23

7-MARCH-1994

Egypt

Banbi Signs Oil Agreement With Forum

Egyptian Oil Minister Hamdi al-Banbi last month signed the first oil and gasexploration and production agreement with a private sector Egyptian company.Under the agreement, Forum Exploration - headed by businessman and oilconsultant Wafiq al-Jundi - was awarded the 212-sq. km. tract southwest of ZeitBay in the Gulf of Suez. The agreement was approved by the bids committee of theEgyptian General Petroleum Corporation (EGPC)...