Cairo eases terms for oil firms in attempt to secure upstream investment

Issue 450 - 17 Nov 2021 - By John Hamilton

Companies including Apache and Transglobe are being allowed to merge multiple concessions into larger entities in a bid to cut costs. A sharp decline in crude production has driven the Egyptian authorities to take steps to fix long-standing problems which make it impossible for many mature oil concessions to operate profitably. International oil companies (IOCs) are expected to benefit from the anticipated improved terms and greater efficiencies, writes John Hamilton

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