Egyptian General Petroleum Corp. (EGPC) reportedly owes Italy’s Eni USD650m for its production share in Agiba, Pharaonic and Petrobel joint ventures. As per the agreement, EGP will pay Eni in installments linked to Egyptian companies’ work on the Zohr natural gas field. Meanwhile, Egypt is in talks to reach similar agreement with another major international oil company over USD800m in dues. (Bloomberg)
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