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Tharwa: a new E&P player in Egypt and neighboring markets

Source: www.oilegypt.com 3/9/2004, Location: Africa

Cairo, March 9, 2004 - The Egyptian Minister of Petroleum Eng. Sameh Fahmy headed yesterday the first board meeting for Tharwa Company in the presence of the Minister of Finance.

Tharaw Company is an Egyptian joint stock company established in accordance with the provisions of general authority of investment and free zones decree No. 8/1997 with an issued capital of $400 million and authorized capital of $800 million. Tharwa Company shareholders are The Egyptian General Petroleum Corporation (EGPC), Egyptian Natural Gas Holding Company (EGAS), Ganoub El Wadi Holding Petroleum Company “GANOPE”, The Ministry of Finance, National Investment Bank and a number of other Ministries.

Tharwa Company is the first 100% Egyptian entity established to handle oil & gas exploration, development and production inside and outside Egypt.


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