VOL. XXXVI

NO. 43

26-JULY-1993

EGYPT

Banbi Signs Oil Agreement With Coplex

Egyptian Oil Minister Hamdi al-Banbi on 18 July signedan oil and gas exploration and production-sharing agreement with Coplex, theTasmania-based Australian firm, for the 1,583-sq. km. West 'Ish al-Mallahaonshore tract on the mainland west of the Gulf of Suez in the Eastern Desert.The agreement requires the company to pay a signature bonus of $1mn and to spend$9mn on exploration, including the drilling of three wells, over...