TransGlobe Energy announces Eastern Desert contract execution
TransGlobe Energy has announced execution of the new concession agreement consolidating and amending its three existing Eastern Desert concession agreements (West Gharib, West Bakr and North West Gharib). All dollar values are expressed in US dollars unless otherwise stated. Production Sharing Contract Finalization TransGlobe has signed the Agreement which was ratified into law in December 2021 by […]
TransGlobe announces amendment of Egypt’s Eastern Desert Production Sharing Contracts
TransGlobe Energy announces ratification of the consolidated and amended Eastern Desert Production Sharing Contracts. TransGlobe Energy has announced the ratification of the consolidated and amended Eastern Desert Production Sharing Contracts. Production Sharing Contract Ratification TransGlobe has received notification that its agreement with the Egyptian General Petroleum Corporation (‘EGPC’) to merge, amend and extend its three existing Eastern Desert concessions […]
Egypt’s Parliament approves Apache’s Modernized Production Sharing Contract
APA Corp. says Egypt’s parliament approved the company’s agreement to modernize and consolidate its current production sharing contracts with the government. APA says the changes will “simplify the contractual relationship with [the government] and include provisions to create a single cost recovery pool, facilitate increased recovery of prior investment, adjust cost recovery and production sharing percentages, and refresh the […]
Apache moves toward revamp of its contracts in Egypt’s Western Desert
APA Corp. reached an agreement in principle with Egypt’s Ministry of Petroleum and Mineral Resources and the Egyptian General Petroleum Corp. in support of the MOP’s efforts to modernize the country’s petroleum sector. The new Production Sharing Contract (PSC) will consolidate most of the concessions in the Western Desert of Egypt operated by APA Corp. […]
Shell Egypt signs two PSC agreements for Red Sea, West Mediterranean Blocks
Dutch Shell has signed two production-sharing contracts (PSC) with the Ministry of Petroleum and Mineral Resources in the marine concession areas and deep water in the Red Sea region (Block 3) with an area of 3097 square kilometers, and in the Western Mediterranean region a 30% share of the exploration sector north of Ras Kanayis, […]
