|
|
Article: Egypt inks upstream deals.(International)(Brief article)
- Article from:
- The Oil Daily
- Article date:
- August 18, 2009
CopyrightCOPYRIGHT 2009 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Egypt's oil ministry on Sunday announced the signing of six contracts, five of which involve extensions and amendments to existing concessions, and one of which marks a new exploration deal.
All were approved by Egypt's parliament earlier this year, among other agreements. Investment under the six contracts is expected to reach some $2.3 billion.
The UK's BP and Italy's Eni account for the lion's share of investment, with the $1.1 billion deal on their Ras El Bar concession in the Nile Delta and the $900 million agreed for the Temsah concession, also in the Nile Delta, covering new developments and gas pricing.
Another $200 million deal covers ...