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13 Exploration Agreements Approved by The Egyptian Government

Source: www.oilegypt.com 6/14/2009, Location: Africa

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The Egyptian People’s assembly has approved 13 Petroleum agreements during its session held on June 13, 2009, which was chaired by Dr Fathy Sorour. The agreements are related to Oil and Natural Gas exploration in Egypt’s provinces.

The 13 agreements include contracts with Indian, Emerati, American, English and Italian Companies to explore for Oil and Gas with a minimum investment of $ 2.5 billion and a drilling of 31 wells.

Five agreements include exploring for Oil & Gas in Ganoub El Wadi region. These agreements are with a group of Indian Companies and Ganoub El Wadi Petroleum Holding Company (GANOPE).

The first three agreements are in South Quseir concession on the Red Sea, South Sinai on the Gulf of Suez and South Gulf of Suez to explore for Oil & Gas in an area of approximately 11,000 sq km with a minimum investment of $ 128 m and a drilling of 9 wells.

Agreement 4. is in Ghazaliyat (Block-11), Assiut province, between GANOPE, Arab Investment Company – Egyptian – and the Emerati RAK Petroleum (Ras Al Khaimah) in an area of approximately 700 sq km, and an investment of $ 10.5 m and a drilling of 3 wells.

Agreement 5. is in the expansions of West Esh El Mallaha Development block in the Eastern Desert between GANOPE and Tharwa Company in an area of approximately 43 sq km with an investment of $ 17.5 m and a drilling of 5 wells.

Agreement 6. is in Siwa Concession in the Western Desert between EGPC, Apache / Khalda and Tharwa Company with an investment $ 15 m and a drilling of 4 wells.

Agreement 7. is in West Ghazalat in the Western Desert between the Egyptian General Petroleum Corporation (EGPC), Apache / Khalda and Tharwa Company with an investment $ 7.5 m and a drilling of 4 wells.

Agreement 8. is in El Saloum Concession in the Western Desert between EGPC and Apache / Khalda and Tharwa Company with an investment of $ 7.5 m. and a drilling of 4 wells.

Agreement 9. is in Offshore Ras El Barr Concession in Nile Delta between EGPC, Bp Egypt and the Italian Ieoc with an investment of $ 1,100 m.

Agreement 10. is in Offshore El Temsah Block in Nile Delta between EGPC, Bp Egypt and the Italian Ieoc with an investment of $ 900 m.

Agreement 11. is in Offshore South Ghara Concession between EGPC and Ieoc with an investment of $ 200 m.

Agreement 12. is in South Belayim Offshore Concession in the Gulf of Suez between EGPC and Bp Egypt with an investment of $ 60 m.

Agreement 13. is in Thekah North Sinai Concession between the Egyptian Natural Gas Holding Co. (EGAS), Ieoc and Tharwa Company with an investment of $ 51 m.

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