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Gaz de France Becomes an Operator in Egyptian Upstream E& P Activities

Source: www.oilegypt.com 9/16/2005, Location: Africa

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Gaz de France has signed a production-sharing concession agreement with the Egyptian Ministry of Petroleum and the state-owned Egyptian Natural Gas Holding Company (EGAS) for the attribution of the entire West El Burullus exploration block covering an area of 1,364 square kilometres in the Mediterranean Sea, off the coast of Alexandria.

This success follows Gaz de France's decision to take part in the call for tenders procedure launched by the Egyptian authorities. This signature is just the concretisation of this May 2004 success.

This new contract both reinforces the activities pursued by Gaz de France in the Egyptian upstream exploration and production sector (where the Group was already present with its 20% interest in the North West Damietta block) and allows the company to become, for the first time, an operator in this country.

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