APA Corporation Announces Agreement in Principle with Egypt’s Ministry of Petroleum and Mineral Resources and EGPC to Modernize Production Sharing Contracts in Western Desert of Egypt
May 04, 2021 08:50 ET | Source: APA Corporation APA Corporation Houston, Texas, UNITED STATES
HOUSTON, May 04, 2021 (GLOBE NEWSWIRE) APA Corporation (Nasdaq: APA) today announced it has reached an agreement in principle with Egypt’s Ministry of Petroleum and Mineral Resources (MOP) and the Egyptian General Petroleum Corporation (EGPC) in support of the MOP’s efforts to modernize the country’s petroleum sector.
The new Production Sharing Contract (PSC) will consolidate the majority of the concessions in the Western Desert of Egypt operated by APA Corporation subsidiary Apache Egypt (“Apache”) into a single new concession, which will account for more than 90% of the company’s gross production volumes in Egypt on a barrel of oil equi
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
APA Corporation Announces Agreement in Principle with Egypt’s Ministry of Petroleum and Mineral .
APA CorporationMay 4, 2021 GMT
HOUSTON, May 04, 2021 (GLOBE NEWSWIRE) APA Corporation (Nasdaq: APA) today announced it has reached an agreement in principle with Egypt’s Ministry of Petroleum and Mineral Resources (MOP) and the Egyptian General Petroleum Corporation (EGPC) in support of the MOP’s efforts to modernize the country’s petroleum sector.
The new Production Sharing Contract (PSC) will consolidate the majority of the concessions in the Western Desert of Egypt operated by APA Corporation subsidiary Apache Egypt (“Apache”) into a single new concession, which will account for more than 90% of the company’s gross production volumes in Egypt on a barrel of oil equivalent (BOE) basis. The changes simplify the contractual relationship with EGPC and include provisions to
Angkor Resources Corp.: Angkor Announces Ground-breaking Agreement with Indigenous Communities
Toronto, Ontario (Newsfile Corp. - May 4, 2021) - Angkor Resources Corp. (TSXV: ANK) (OTC Pink: ANKOF) ( Angkor or the Company ) CEO Stephen Burega is pleased to report Angkor s ground-breaking collaborative engagement with the Indigenous communities on the Andong Meas license. The agreement covers exploration through mining and also includes reclamation.
Angkor is committed to providing expertise, employment, education and training in various skillsets which also supports the development of mineral projects on the Andong Meas license.
Highlights of the Agreement
This agreement paves the way for community, industry, government, and civil society to implement a realistic model to benefit Indigenous communities and advances ethical development in the country.
Article content
Toronto, Ontario–(Newsfile Corp. – May 4, 2021) – Angkor Resources Corp. (TSXV: ANK) (OTC Pink: ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to report Angkor’s ground-breaking collaborative engagement with the Indigenous communities on the Andong Meas license. The agreement covers exploration through mining and also includes reclamation.
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Angkor is committed to providing expertise, employment, education and training in various skillsets which also supports the development of mineral projects on the Andong Meas license.
Highlights of the Agreement
A Civil Society Organisation, Good Governance Advocates, said it is âsaddened that President Muhammadu Buhari has ordered the Department of Petroleum Resources (DPR) to restore the four oil mining licences revoked from Addax Petroleum while directing the DPR to retract the letter of revocation of the leases.â
It, however, commended the DPR for taking concrete steps to boost the revenue accruing to the government in the assets.
In a statement signed by its National President, Kema Maxwell, Good Governance Advocates acknowledged that Nigeria and China continue to enjoy cordial economic, political and social ties, and support the mutual development of both countries.