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Egypt seeking bigger share in future oil, gas deal
- Egypt: Thursday, April 25 - 2013 at 06:19
Egyptian oil minister Osama Kamel has said the country will seek a bigger share of production in future oil and gas exploration contracts signed with foreign companies, Reuters has reported. The new system would not be applied retroactively to existing contracts, Kamel said, without giving a time frame or any further details. "We will implement the new contracts system in tenders to be offered in the next period and not retroactively. The contracts that were recently concluded will not be subjected to it," he said.
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