VOL. XXXVII

NO. 31

2-MAY-1994

Egypt

Mobil SignsSouth Belayim Concession

On 27 April Mobilsigned an oil and gas production-sharing agreement with Egypt for the 90,000acre (365-sq. km.) South Belayim block in the Gulf of Suez. A Mobil announcement issued in Fairfax on 27 April states that the agreement signifiesMobil's return to exploring for oil and gas in Egypt following a 12-yearabsence. Mobil has previously explored in both the Red Sea and Nile Delta andhas had a long-standing equity interest...