الترخيص لوزير البترول في التعاقد مع الهيئة وأيوك للبحث بخليج السويس ودلتا النيل

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٢٠٢١ ‫ دﯾﺴﻤﺒﺮ ﺳﻨﺔ‬١٨ ‫ ﻣﻜﺮر )ج( ﻓﻰ‬٥٠ ‫اﻟﺠﺮﯾﺪة اﻟﺮﺳﻤﯿﺔ – اﻟﻌﺪد‬

WHEREAS, by virtue of the Deed of Assignment ratified by the Minister of Petroleum on May 4, 2010, EGPC assigned to IEOC PRODUCTION B.V. the rights of six percent (6%) of the total amount of Crude Oil produced and saved from the Area and not used in Petroleum Operations out of EGPC’s entitlement under the Original Concession Agreement; and given that this Concession Agreement shall entirely replace both the Original Concession Agreement as amended and the above mentioned Deed of Assignment from the Effective Date, the sharing percentages specified under this Agreement as per Article VII shall be the only applicable sharing percentages as of the Effective Date; and Belayim

Petroleum

Company

("PETROBEL"

or

‫صو‬

WHEREAS,

“Operating Company”) was established on 20 April 1978 to carry out the

‫رة إلك‬

operations in the Original Concession Agreement Area, in accordance with the provisions of Law No. 16 of 1978, as amended; and

‫تروني‬

WHEREAS, the "Original Development Area" consists of 14 leases in the Gulf of Suez in addition to Abu Madi Lease (as defined below) in the

‫ة ال ي‬

Nile Delta, granted in accordance with the Original Concession

Agreement issued by Law No. 16 of 1978 and its amendments and shall

‫تد بها‬ ‫ع‬

expire on 31/12/2030; and

WHEREAS, the Parties aim to sustain the production levels and to increase the remaining recoverable reserves under the Original

‫عند ال‬

Development Area while assessing the other remaining upside potentials through cutting edge technologies; and

WHEREAS, the Parties agree to carry out such operations while

‫تداول‬

maintaining appropriate economic balance among the Parties under the Concession Agreement to allow for the recovery of the costs of such operations; and