New incentives for Egypt’s foreign partners



Issue 261 - 14 Sep 2013 - By John Hamilton

Upstream players have so far remained unfazed by the violent political changes of the summer. They were likewise relatively untroubled by the 14-month-long Muslim Brotherhood administration of President Mohammed Morsi, in spite of its various missteps and failures. However, it now looks likely that the new administration will move quickly to create new financial incentives for international oil companies (IOCs) and to reduce the pressure on them caused by the growing value of arrears owed by Egyptian General Petroleum Corporation (EGPC) and its subsidiaries.

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