الجريدة الرسمية

WàM Ç àà ±´´´ WM
vè_Ç éÏUL ³° v ÑÏUBÇ µ± ÏbàààFÇ

æu Çè W U)Ç ( å ²°²² WM
dL Ï ²´) oÇu*Ç (Ã) ÑdJ
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dL Ï ²´ v (Ã) ÑdJ µ± ÏbFÇ - WOL
dÇ Ébd'Ç
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±² ...................................... ÊUHdF ±
²´ ................................ WOUHÇ o ²
²¸ ............................... Éb*Çè âuI(Ç `M ³
µ² ............. YÇ Éd ÁUMÃ ÊUIHMÇè qLFÇ ZUd ´
¶² ................... WÑUO Çè WÑUÇ ÊUOKÇ µ
¶¸ .................. éÑUÇ áUAÇ bF ÊUOKLFÇ ¶
·² ..... ÌUÇ åU Çè ÊUèdB*Çè nOUJÇ ÏÇÏd
Ç ·
±°¸ ................................. äu_Ç WOJK ¸
±±² ......................................... `M*Ç ¹
‫صورة إ‬
±²° ..................... ÊÇÑUD Ç mOKè VJ*Ç dI ±°
±²° ................ ÉÑU )Ç ÁÑÏè äèdÇ vK WEU;Ç ±±
±²² .............................. WOdL'Ç ÊÇÁUHÇ ‫لك‬ ±²
‫تروني‬
±²¸ .............. ÊUub*Çè W
U;Ç - ÊUU (Ç dUÏ ±³
±³° ..................... gOHÇè dÑUIÇè Ê Ç ±´
‫ة ال يع‬
±³´ ............................ ÑÇd{_Ç s WOu *Ç ±µ

±³´ .......................... WuJ(Ç vK2 ÊÇÒUOÇ ±¶
‫تد بها‬
±³¶ .. WOdFÇ dB WÑuNL ÏÇdÃ VÑbè åÇb

Ç âuI ±·
±³¸ ................................ `zÇuKÇè 5ÇuIÇ ±¸
‫عند ا‬
±´° .................................... bIFÇ æÒÇu ±¹

±´² .................................. ÁO
Ç o ²°
‫ل‬
‫تداول‬
±´´ ........................................ äÒUMÇ ²±

²°²² WM
dÇ Ébd'Ç ´
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¿Gƒæ©dG IOÉŸG
±´¸ .................. ÁUGÇ WDK
è WOUHU ä Ç ²²
±µ° ................................... ÉdUIÇ ÉuIÇ ²³
±µ² ............................. rOJÇè ÊUÒUM*Ç ²´
±µ´ .......................... áÇd vuUIÇ l{uÇ ²µ
±µ¶ ............ UOë K WuMB*Ç ÏÇu*Çè æuOK;Ç æuèUI*Ç ²¶
±µ¸ ................................... vdFÇ hMÇ ²·
±µ¸ ..................................... ÊUOuL ²¸
±µ¸ ................................. WOUHÇ a ²¹
±µ¸ .................................. vuUIÇ dI*Ç ³°
‫صورة إ‬
±¶° ........................ WOUH WuJ(Ç ÏULÇ ³±
Ù¨×ó ìÏÌ ÎôÛ

‫لك‬
‫تروني‬
±¶² ....................... åÇeÇ WIDM Ïèb nè "Ã" oK
‫ة ال يع‬
±·° ................ WIDM*Ç lu 5 WOO{u WDd "È" oK
±·² ................................. æULCÇ ÈUD "±-Ì" oK
±·¶ ....................................... æULCÇ "²-Ì" oK
‫تد بها‬
±¸° ............. ÊUOKLFU WLzUIÇ WdAÇ fO

Q bI "Ï" oK
±¸¸ ................................ v
U;Ç åUEMÇ "àà" oK
‫عند ا‬
²²° .......... WOuIÇ ÒUGÇ VOUÃ ×uD WJ WDd "è" oK
‫ل‬
‫تداول‬
µ ²°²² WM
dÇ Ébd'Ç
INDEX
ARTICLE TITLE PAGE
I Denitions .................................................................... 13
II Annexes to the Agreement .......................................... 25
III Grant of Rights and Term ............................................ 29
IV Work Program and Expenditures during Exploration 53
Period ..........................................................................
V Mandatory and Voluntary Relinquishments .................. 63

VI Operations after Commercial Discovery ......................... 69
VII Recovery of Costs and Expenses and Production Sharing 73
VIII Title to Assets ............................................................... 109
IX Bonuses ....................................................................... 113
‫صورة إ‬
X Ofce and Service of Notices ...................................... 121
XI Saving of Petroleum and Prevention of Loss.............. 121
XII Customs Exemptions ................................................... 123
‫لك‬ 129
‫تروني‬
XIII Books of Account: Accounting and Payments..............
XIV Records, Reports and Inspection .................................. 131

‫ة ال يع‬
XV Responsibility for Damages ......................................... 135
XVI Privileges of Government Representatives................... 135
XVII Employment Rights and Training of Arab Republic
‫تد بها‬
of Egypt Personnel ........................................................ 137

XVIII Laws and Regulations .................................................. 139
‫عند ا‬
XIX Stabilization ................................................................. 141

XX Right of Requisition .................................................... 143
‫ل‬
‫تداول‬
XXI Assignment ................................................................... 145

²°²² WM
dÇ Ébd'Ç ¶
INDEX
ARTICLE TITLE PAGE
XXII Breach of Agreement and Power to Cancel ...................... 149

XXIII Force Majeure ................................................................. 151
XXIV Disputes and Arbitration......................................... 153
XXV Status of Parties .................................................... 155
XXVI Local Contractors and Locally Manufactured
Material ................................................................. 157

XXVII Arabic Text.............................................................. 159
XXVIII General ................................................................. 159
XXIX Copies of the Agreement .................................... 159
‫صورة إ‬
XXX Legal Headquarters ............................................... 159
XXXI Approval of the Government .............................. 161
ANNEXES TO THE CONCESSION AGREEMENT ‫لك‬

‫تروني‬
Annex "A" Boundary Description of the Concession Area .............. 163
‫ة ال يع‬
Annex "B" Illustrative Map showing Area Covered .......................... 171
Annex "C-1" Letter of Guaranty ........................................................ 173
Annex "C-2" The Guaranty .............................................................. 177
‫تد بها‬
Annex "D" Charter of Operating Company ..................................... 181
Annex "E" Accounting Procedure .................................................... 189

‫عند ا‬
Annex "F" Map of the National Gas Pipeline Grid System ............ 221
‫ل‬
‫تداول‬
· ²°²² WM
dÇ Ébd'Ç
2022 áæ°ùd 169 ºbQ ¿ƒfÉb

ΔϳϧΩόϣϟ΍ ΓϭέΛϟ΍ϭ ϝϭέΗΑϟ΍ έϳίϭϟ ιϳΧέΗϟΎΑ
ϝϭέΗΑϠϟ ΔϣΎόϟ΍ Δϳέλϣϟ΍ Δ΋ϳϬϟ΍ ϊϣ ΩϗΎόΗϟ΍ ϰϓ
ϝϭέΗΑϟ΍ ϥϋ ΙΣΑϠϟ ϝϭέΗΑϟ΍ ΔϳϣϧΗϭ ϑΎηϛΗγϻ Δϳέλϣϟ΍ Δϳϧρϭϟ΍ Δϛέηϟ΍ϭ
ΔϳΑέϐϟ΍ ˯΍έΣλϟΎΑ ΓέΎρϗ α΃έ ΏϭϧΟ ΔϘρϧϣ ϰϓ ϪϟϼϐΗγ΍ϭ
(.ω.ϡ.Ν)
Ö©°ûdG º°SÉH
ájQƒ¡ª÷G ¢ù«FQ
:ϩΎϧέΩλ΃ Ωϗϭ ˬϪλϧ ϰΗϵ΍ ϥϭϧΎϘϟ΍ Ώ΍ϭϧϟ΍ αϠΟϣ έέϗ
( ≈dhC’G IOÉŸG )
ΔϣΎόϟ΍ Δϳέλϣϟ΍ Δ΋ϳϬϟ΍ ϊ˰˰˰ϣ ΩϗΎόΗϟ΍ ϰϓ ΔϳϧΩόϣϟ΍ ΓϭέΛϟ΍ϭ ϝϭέ˰˰˰ΗΑϟ΍ έϳίϭϟ ιΧέ˵ϳ
‫صورة إ‬
ϝϭέΗΑϟ΍ ϥϋ ΙΣΑϠϟ ϝϭέ˰˰˰ΗΑϟ΍ ΔϳϣϧΗϭ ϑΎ˰˰˰ηϛΗγϻ Δϳέλϣϟ΍ Δϳϧρϭϟ΍ Δϛέ˰˰˰ηϟ΍ϭ ϝϭέΗΑϠϟ
ϙϟΫϭ ˬ (.ω.ϡ.Ν) Δ˰˰˰ϳΑέϐϟ΍ ˯΍έ˰˰˰ΣλϟΎΑ ΓέΎ˰˰˰ρϗ α΃έ Ώϭ˰˰˰ϧΟ ΔϘρϧϣ ϰ˰˰˰ϓ ϪϟϼϐΗ˰˰˰γ΍ϭ
. ΎϬΑ ΔϘΣϠϣϟ΍ ΔρϳέΧϟ΍ϭ ΔϘϓ΍έϣϟ΍ ΔϳϗΎϔΗϻ΍ ϡΎϛΣϷ ˱ ΎϘϓϭ
‫لك‬
‫تروني‬
( á«fÉãdG IOÉŸG )
ˬ ϥϭϧΎϘϟ΍ Γϭ˰˰˰ϗ Δ˰˰˰Ϙϓ΍έϣϟ΍ Δ˰˰˰ϳϗΎϔΗϻ΍ ϰ˰˰˰ϓ ΓΩέ΍ϭϟ΍ Ε΍˯΍έ˰˰˰ΟϹ΍ϭ Ω˰˰˰ϋ΍ϭϘϠϟ ϥϭ˰˰˰ϛΗ
‫ة ال يع‬
. ΎϬϟ ϑϟΎΧϣ ϊϳέηΗ ϯ΃ ϡΎϛΣ΃ ϥϣ ˯ΎϧΛΗγϻΎΑ ΫϔϧΗ˵ ϭ
( áãdÉãdG IOÉŸG )
‫تد بها‬
. ϩέηϧ ΦϳέΎΗϟ ϰϟΎΗϟ΍ ϡϭϳϟ΍ ϥϣ ˱΍έΎΑΗϋ΍ ϪΑ ϝϣό˵ϳϭ ˬΔϳϣγέϟ΍ ΓΩϳέΟϟ΍ ϰϓ ϥϭϧΎϘϟ΍ ΍Ϋϫ έηϧ˵ϳ
. ΎϬϧϳϧ΍ϭϗ ϥϣ ϥϭϧΎϘϛ Ϋϔϧϳϭ ˬ ΔϟϭΩϟ΍ ϡΗΎΧΑ ϥϭϧΎϘϟ΍ ΍Ϋϫ ϡλΑ˵ϳ
‫عند ا‬
ϫ ˺˽˽˽ Δϧγ ϰϟϭϷ΍ ϯΩΎϣΟ ˼˹ ϰϓ ΔϳέϭϬϣΟϟ΍ ΔγΎ΋έΑ έΩλ

. ( ϡ ˻˹˻˻ Δϧγ έΑϣγϳΩ ˻˽ ϕϓ΍ϭϣϟ΍ )
‫ل‬
‫تداول‬
≈°ù«°ùdG ìÉàØdG óÑY

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ÚH
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IQÉ£b ¢SCGQ ÜƒæL á≤£æe
á«Hô¨dG AGôë°üdÉH
.´.Ω .ê
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dN s åuOÇ v WOUHÇ çc ÊÑd
UNK1è ("WuJ(Ç" èÃ ".Ù.å.Ì" vK ULO UNOK oKDè) WOdFÇ dB WÑuNL - ± :˱ϻϭ΃
‫صورة إ‬
è »tHB WObF*Ç ÉèdÇè äèdÇ dÒè /bO Ç
.ÉdUIÇ –dB WMb –deÇ bLÃ ÙÑU Ã± :wuUIÇ dI*Ç
‫لك‬
æuUIÇ Vu0 XàààAÃï WOuU WOBààà vè ¬äèdK WUFÇ WàààdB*Ç WàààONÇ - ²
‫تروني‬
vK ULO UNOK oàààKDè) qbF s tOK qààà ÏÃï U0 ±¹µ¸ WMààà ±¶· ràààÑ
.tHB WONK écOHMÇ fOzdÇ /bO Ç UNK1è ("WONÇ"
‫ة ال يع‬
.ÉdUIÇ – Ébb'Ç éÏUF*Ç – lÇdÇ dDAÇ ²·° ÙÑU :wuUIÇ dI*Ç
(ϝϭ΃ ϑέρ)
WLU Wd vè ¬äèdÇ WOLMè áUAJ
WdB*Ç WOM uÇ WdAÇ :˱ ΎϳϧΎΛ
‫تد بها‬
dB WÑuNL ÑUL

Ç 5ÇuI Uë Iààà WLzUè W
R ²°±· - ·² rÑ
ou vL
Ñ ÈUD tM ÈuM s èÃ WdAÇ fOzÑ /bO Ç UNK1è WOdFÇ
‫عند ا‬
.("äèUI*Ç" èÃ "ubÇ" vK ULO UNOK oKDè)

lLÇ – vUÇ v(Ç – WOUÇ WIDM*Ç – S2-3/S1-2 WFD :wuUIÇ dI*Ç
‫ل‬
.Ébb'Ç ÉdUIÇ – fU)Ç

‫تداول‬
(ϥΎΛ ϑέρ)
¹ ²°²² WM
dÇ Ébd'Ç
CONCESSION AGREEMENT FOR PETROLEUM

EXPLORATION AND EXPLOITATION
BETWEEN
THE ARAB REPUBLIC OF EGYPT
AND
THE EGYPTIAN GENERAL PETROLEUM CORPORATION
AND
EGYPTIAN NATIONAL PETROLEUM FOR EXPLORATION
AND DEVELOPMENT COMPANY
IN
SOUTH RAS QATTARA AREA
WESTERN DESERT
A.R.E.
This Agreement made and entered on this day of , 20---, by
and between:
First: 1- the ARAB REPUBLIC OF EGYPT (hereinafter referred to
variously as "A.R.E." or as the "GOVERNMENT"), represented
by the Minister of Petroleum and Mineral Resources, in his
‫صورة إ‬
capacity; and
Legal Headquarters: 1A Ahmed Al Zomor St., Nasr City, Cairo.
2- the EGYPTIAN GENERAL PETROLEUM CORPORATION,
‫لك‬
a legal entity created by Law No. 167 of 1958 as amended
‫تروني‬
(hereinafter referred to as "EGPC") represented by the Chief
Executive Ofcer, in his capacity.
Legal Headquarters: 270 St., Part 4, New Maadi, Cairo.
‫ة ال يع‬
(First Party)
Second : EGYPTIAN NATIONAL PETROLEUM FOR EXPLORATION
AND DEVELOPMENT COMPANY , a joint stock company
‫تد بها‬
No. 72-2017 organized and existing under the laws of

investment in A.R.E. represented by the President of the Company
or a concerned delegate supported with a power of attorney.
‫عند ا‬
(hereinafter referred to as "ENPEDCO" or as "CONTRACTOR").

Legal Headquarters: Plot 2-S1/3-S2 – Second Area - Second
District – Fifth Settlement – New Cairo.
‫ل‬
‫تداول‬
(Second Party)
²°²² WM
dÇ Ébd'Ç ±°
bON9
.Ù.å.Ì v dU;Çè rUM*Ç v ÉÏuu*Ç ¬äèdÇ UNO U0 ¬æÏUF*Ç lOL pK9 WèbÇ æÅ YO
bL*Çè UNu l{U)Ç dÇ ÙU v ÉÏuu*Ç Çcè WÏUBÇè WOLOKÇ çUO*Ç pÐ v U0
¬WOLOKÇ çUO*Ç bF U vÅ
äèdÇ s YK UNOK ÑuBI åÇeÇ vK äuBK VKD XbI b WONÇ æÅ YOè
"Ã" oK*Ç v Wuu*Çè WOUÇ ÉÏU*Ç v UNOÅ ÑUA*Ç WIDM*Ç ÁUÃ WU v tG
Çè
ÑUAè) UNM Áe' 5uJ*Çè WOUHÇ çcN 5Id*Ç "È" oK*Ç v vdI qJA WMO*Çè
¬("WIDM*Ç"à vK ULO UNOÅ
qL æÃ vK oÇu "ubÇ" äèdÇ WOLMè áUAJ
WdB*Ç WOM uÇ WdAÇ æÅ YOè
s YÇ äUàLQ hà ULO ë èUàI UàNHB vK ULO UNOK ÕuàBM*Ç UàNUÇeÇ
¬WOdGÇ ÁÇdBU ÉÑUD ÓÃÑ ÈuM WIDM v tUÅè tOLMè äèdÇ
:wK U0 bNF "ubÇ" äèdÇ WOLMè áUAJ
WdB*Ç WOM uÇ WdAÇ æÅ YOè
‫صورة إ‬
ÊUOKLF WU)Ç ÊÇÁÇdÇ s éÃ ÙUÅ q WÒÇ ÊUIÇu*Ç c Ãè WONÇ l oO MÇ - ±
.YÇ
ë ÁbÇ - ²
lOL æÃ ÑUÇ vKè YÇ ÊUOKLF åUOIK WÒÇ ÊÇÑUL
Ç a{ v ÇÑu
‫لك‬
ÉÑuc*Çè ÉÏUF*Ç âdDU ÏÇÏd
WKU æuJ ÊUOKLFÇ pK WDd*Ç ÊUèdB*Ç
‫تروني‬
.æUd Ç Ábè WIDM*U ÕU)Ç æuUIÇ Ñèb bF pÐè WOUHU
WdAÇ æS WIDM*U ÕU)Ç æuUIÇ ÑÇbÅ vK ÈÇuMÇ fK WIÇu åb WU v - ³
‫ة ال يع‬
WONÇ qOL% èÃ WUD æèÏ XIHÃ vÇ ÊUèdB*Ç lOL qL áu

(äèUI*Ç)
(äèUI*Ç) WdAÇ åÇeÇ l WIDM*Ç pK WU ÊUÇeÇ éÃ äèdK WUFÇ WdB*Ç
‫تد بها‬
Vu0 XdÃ vÇè WIDM*U WU)Ç ÊU

ÇÑbÇè WOMHÇ ÊUuKF*Çè ÊUUOÇ q rOK
.âUHÇ Çc
‫عند ا‬
sLC WOM uÇ Wb)Ç ÊUèdA ÒUN s æUL{ ÈUD WONK (äèUI*Ç) WdAÇ åbI - ´
Éd s WOMHÇè WOU*Ç ÊUÇe vÏ_Ç b(Ç WLOI (äèUI*Ç) WdAÇ åÇeÇ tO
æuUIÇ Ñèb bF WOUHÇ lOu (äèUI*Ç) WdAÇ åÇeÇè ÉbR*Ç WOè_Ç YÇ
‫ل‬
‫تداول‬
.WIDM*U ÕU)Ç
±± ²°²² WM
dÇ Ébd'Ç
PREAMBLE
WHEREAS, all minerals including Petroleum, existing in mines and
quarries in A.R.E., including the territorial and economical waters, and in
the seabed subject to its jurisdiction and extending beyond the territorial
waters, are the property of the State; and
WHEREAS, EGPC has applied for an exclusive concession for the
Exploration and Exploitation of Petroleum in and throughout the
Area referred to in Article II, and described in Annex "A" and shown
approximately on Annex "B", which are attached hereto and made part
hereof (hereinafter referred to as the "Area") ; and
WHEREAS, EGYPTIAN NATIONAL PETROLEUM FOR
EXPLORATION AND DEVELOPMENT COMPANY " ENPEDCO"
agrees to undertake its obligations provided hereinafter as a
CONTRACTOR with respect to the Exploration, Development and
Production of Petroleum in South Ras Qattara Area, Western Desert; and
WHEREAS, EGYPTIAN NATIONAL PETROLEUM FOR
EXPLORATION AND DEVELOPMENT COMPANY "ENPEDCO"
undertakes the following:
‫صورة إ‬
1 - Coordination with EGPC and obtaining the necessary approvals before
undertaking any procedures related to the Exploration operations.
2- Immediate commencement of making the necessary investments to
‫لك‬
perform the Exploration operations, taking into consideration that
‫تروني‬
all expenses related to such operations shall be recoverable by usual
methods stated in the Agreement, after the relevant Law is issued and
be in effect.
‫ة ال يع‬
3- In the event of the disapproval of the Parliament to issue the relevant
Law, the Company (CONTRACTOR) shall bear all expenses expended
without claiming or charging EGPC with any obligations relevant
to such Area with the Company (CONTRACTOR’s) obligation to
‫تد بها‬
deliver all data and technical information and studies related to the
Area conducted under this Agreement.
4- The Company (CONTRACTOR) shall submit a Letter of Guaranty
‫عند ا‬
from the NSPO, guaranteeing the obligation of the Company

(CONTRACTOR’s) minimum nancial and technical obligations
for the conrmed initial Exploration period and the obligation of the
‫ل‬
‫تداول‬
Company (CONTRACTOR) to sign the Agreement, after the relevant

Law is issued.
²°²² WM
dÇ Ébd'Ç ±²
ÊON WD ÁUM (äèUI*Ç) WdAÇ åuI ¬WIDM*U éÑU& áUAÇ oOI% äU v - µ
XÒ WLO ád rè nAJÇ Çc s ZM*Ç åU)Ç q WONÇ rOK r æÃ vK ÌUÇ
WObF*Ç ÉèdÇè äèdÇ dÒè bO Ç lOu bF (äèUI*Ç) WdAK ÏÇÏd
Ç XÒ èÃ `dÇ
.WOUHÇ ÕuBM Uë I WOLMÇ bI vK
WU)Ç WFU Ç ÉÏU*Ç ÕuBM Uë I ÏÇÏd
Ç XÒè `dÇ XÒ WLOI WUD*Ç æuJ -¶
aÑU ÑUÇ v c R æÃ vKè "ÌUÇ åU Çè ÊUèdB*Çè nOUJÇ ÏÇÏd
Ç"à
.äèdK WUFÇ WdB*Ç WONK ÊUMAÇ rOK
¬²°²±/±±/²¸ aÑU pÐ vK oÇè b WONK écOHMÇ fK*Ç æÅ YOè
¬²°²²/²/¹ aÑU pÐ vK oÇè b WONÇ ÉÑÇÏÅ fK æÅ YOè
¬WOUHÇ çc Vu0 åÇeÇ Çc `M v Vd WuJ(Ç æÅ YOè
±¹¸ rÑ æuUIÇè ±¹µ³ WM ¶¶ rÑ æuUIÇ åUJÃ Vu0 äèdÇ dÒu Òu tÃ YOè
áUAJ
WdB*Ç WOM uÇ WdAÇ lè ¬WONÇ l åÇeÇ WOUHÇ åd æÃ ¬²°±´ WM
‫صورة إ‬
.WIDM*Ç çc v ë èUI UÑUU "ubÇ" äèdÇ WOLMè
:ÊÂ u U vK WOUHÇ çc áÇd Ã oHÇ bI pc
‫لك‬
ë oU Ç bONLÇ dFè
.tUJ_ Uë Lè ë LJè âUHÇ Çc s Ãe ÇÁe
‫تروني‬
v?? ? ? ? ?Ë_« …œU*«
ΕΎ˰˰˰˰˰˰˰˰˰ϔϳέόΗ
‫ة ال يع‬
` *Ç äULÃ s UdOè éu'Çè vIeOuO'Çè vuuO'Ç ` *Ç äULÃ qLA "YÇ" (Ã)

XOUMbÇ dOH WKCÇ ÑUÇ dHè ¬ÉbLF*Ç ÊUÒÇu*Çè qLFÇ ZÇd v ÉÏÑÇuÇ
‫تد بها‬
ÈuIÇ dHè WOuuO'Ç ÊUIDK ÊÇÑU Ç ÁÇdÅè ÊUMOFÇ ÌÇd

ÈuIÇ dHè
WIKF*Ç ÑUÇè ÈuIÇ s UdOè WOèdÇ ÊUUAÇ rOOI èÃ äèdÇ áUA
‫عند ا‬
¬pc WU)Ç ÊÇbF*Çè ÊUb)Çè ÊULN*Çè ÊÇÏÇbÇ vK äuB(Ç èÃ ÁÇdè ¬pc
"Y" qFHU bBIè ¬ÉbLF*Ç ÊUÒÇu*Çè qLFÇ ZÇd v ÏÑÇè u U* Uë Iè tK pÐè
‫ل‬
‫تداول‬
.YÇ ÊUOKLF åUOIÇ

±³ ²°²² WM
dÇ Ébd'Ç
5- In case a Commercial Discovery is established in the Area, the Company

(CONTRACTOR) shall construct a Production Facility Plant to deliver
to EGPC all Crude Oil from such discovery. The value of Prot Oil or
Cost Recovery Oil shall be paid to the Company (CONTRACTOR),
after the signature by the Minister of Petroleum and Mineral Resources
on the Development Lease, pursuant to the provisions of the Agreement.
6- Claiming the value of the Prot Oil or Cost Recovery Oil shall be
according to the provisions of Article VII "RECOVERY OF COSTS
AND EXPENSES AND PRODUCTION SHARING", taking into
consideration the delivery date of the shipments to EGPC.
WHEREAS, EGPC’s Executive Board of Directors has approved thereupon
on 28/11/2021, and
WHEREAS, EGPC’s Board of Directors has approved thereupon on
9/2/2022, and
WHEREAS, the GOVERNMENT desires hereby to grant such Concession
under this Agreement; and
WHEREAS, the Minister of Petroleum pursuant to the provisions
‫صورة إ‬
of Law No. 66 of 1953 and Law No. 198 of 2014, may enter into a
concession agreement with EGPC, and with EGYPTIAN NATIONAL
PETROLEUM FOR EXPLORATION AND DEVELOPMENT
COMPANY " ENPEDCO" as a CONTRACTOR in the said Area. ‫لك‬
‫تروني‬
NOW, THEREFORE, the parties hereto agree as follows:
The previous preamble to this Agreement are hereby made part hereof,
‫ة ال يع‬
complemented and integrated to its provisions.
ARTICLE I
DEFINITIONS
‫تد بها‬
(a) "Exploration" shall include such geological, geophysical, aerial and

other surveys as may be contained in the approved Work Programs and
Budgets, and the drilling of such shot holes, core holes, stratigraphic
‫عند ا‬
tests, holes for the discovery of Petroleum or the appraisal of Petroleum

discoveries and other related holes and wells, and the purchase or
acquisition of such supplies, materials, services and equipment
‫ل‬
‫تداول‬
therefore, all as may be contained in the approved Work Programs and

Budgets. The verb "explore" means the act of conducting Exploration.
²°²² WM
dÇ Ébd'Ç ±´
ZÇd oè WDA_Çè ÊUOKLFÇ WU ¬dB(Ç fOè äU*Ç qO

vK ¬qLA "WOLMÇ" (È)
- :àààà oKF ULO WOUHÇ çc q v ÉbLF*Ç ÊUÒÇu*Çè qLFÇ
dOOGè WOLMÇ ÑUÂ eON&è äULJ
Çè dH(Ç ÉÏUÅè ÑU *Ç dOOGè oOLFè b
è dH – ±
¬dÇ WU
ÊON è ×uD)Çè ÊÇbF*Ç WUOè Wb è VOdè ÁUAÅè W
bMè rOLBè – ²
ÉÑuc*Ç WOLMÇ ÑUÂ qOGAè ÌU pc WIKF*Ç ÊUOKLFÇè qUF*Çè ÊUJAÇ
Çcè tMeè tONè t'UFè t ØUHÇè tOK äuB(Çè äèdÇ ÌÇd

ÊUèdA*Çè tÑèÏ ÉÏUF
Çè tDG{ ÉÏUÅ WOKLF åUOIÇè tLOK è äèdÇ qI
¬çÏÇÏd
WuUÇ éd _Ç
WIKF*Ç WuUÇ èÃ WÑèdCÇ WDA_Ç èÃ äUL_Ç s ULdOè seÇè qIMÇè – ³
.(²) è (±) v UNOK ÕuBM*Ç WDA_U
oKDM*Ç ÒUGÇè ÒUGÇè XKH
Çè tUU á Ç vK qzU Ç åU)Ç XeÇ çUMF "äèdÇ" (Ì)
‫صورة إ‬
ZMè WIDM*Ç v UNOK dF b vÇ éd _Ç WOudèÑbONÇ ÏÇu*Ç WUè ÊUu OIÇ s
Çcè ¬WOUHÇ çc vCI0 WIDM*Ç s UN kHè éd Ã WIdD UNOK äuB(Ç r èÃ
‫لك‬
.UNM Ìd b vÇ ÏÇu*Ç WU
‫تروني‬
WIDM*Ç s ZM æudèÑbO éÃ çUMF "XeÇ" èÃ "åU)Ç XeÇ" èÃ "qzU Ç åU)Ç XeÇ" (Ï)
hK écÇ èÃ ÒUGÇ qB l{Çu v èÃ dÇ ÓÃÑ bM WuO Ç WU v æuJè
‫ة ال يع‬
WKzU Ç WU(Ç çc bÇuè .qUF*Ç bÃ v ÊUu OIÇ s oKDM*Ç ÒUGÇ èÃ ÒUGÇ s
q Ñ ±´[¶µ éèU éu jG{è (á ç ¶°) XONdN WÑÏ 5
ÉÑÇdààà WÑÏ bM
‫تد بها‬
.nJ*Çè dDI*Ç qLA dOFÇ Çcè .WFd*Ç WuÇ vK

WM*Ç t WuJ*Ç dUMFÇ WUè VUB*Ç dOè VUB*Ç vFODÇ ÒUGÇ vMF "ÒUGÇ" (à)
‫عند ا‬
WOudèÑbONÇ dO ÏÇu*Ç lOLè (qzU Ç åU)Ç XeÇ á) WIDM*Ç v d WÃ s
ÒU qB bF vI*Ç ÒUGÇ uè ¬nK*Ç ÒUGÇ qLA dOFÇ Çcè .t bu vÇ
‫ل‬
‫تداول‬
."LPG" äU *Ç äèdÇ
±µ ²°²² WM
dÇ Ébd'Ç
(b) "Development" shall include, but not be limited to, all the operations
and activities pursuant to approved Work Programs and Budgets under
this Agreement with respect to:
(i) the drilling, plugging, deepening, side tracking, re-drilling,
completing, equipping of development wells and the changing of
the status of a well, and
(ii) design, engineering, construction, installation, servicing and
maintenance of equipment, lines, systems facilities, plants and
related operations to produce and operate said development
wells, taking, saving, treating, handling, storing, transporting
and delivering Petroleum, re-pressuring, recycling and other
secondary recovery projects, and
(iii) transportation, storage and any other work or activities necessary
or ancillary to the activities specied in (i) and (ii).
‫صورة إ‬
(c) "Petroleum" means Liquid Crude Oil of various densities, asphalt, Gas,
casing head gas and all other hydrocarbon substances that may be
found in, and produced, or otherwise obtained and saved from the
‫لك‬
Area under this Agreement, and all substances that may be extracted
‫تروني‬
there from.
(d) "Liquid Crude Oil" or "Crude Oil" or "Oil" means any hydrocarbon
produced from the Area which is in a liquid state at the wellhead or
‫ة ال يع‬
lease separators or which is extracted from the Gas or casing head

gas in a plant. Such liquid state shall exist at sixty degrees Fahrenheit
‫تد بها‬
(60O F) and atmospheric pressure of 14.65 PSIA. Such term includes

distillate and condensate.
(e) "Gas" means natural Gas both associated and non-associated, and all
‫عند ا‬
of its constituent elements produced from any well in the Area (other
than Liquid Crude Oil) and all non-hydrocarbon substances therein.
‫ل‬
‫تداول‬
Said term shall include residual gas, that Gas remaining after removal
of LPG.
²°²² WM
dÇ Ébd'Ç ±¶
v æuJ jOK u écÇè äU *Ç äèdÇ ÒU vMF "LPG" "äU *Ç äèdÇ ÒU" (è)
¬ÉÑÇd(Ç iOHè jGCU äU *Ç (C4) æUuOÇè (C3) æUèdÇ s ÓU
_Ç
ÊUHÇuLK Uë Iè ¬(C5+) fK æUMÇè (C2) æUÇ s ÉÏb V vÅ WU{U
."LPG"äU *Ç äèdÇ ÒU ZM* WdB*Ç WO
UOIÇ
WOJd_Ç Éb*Ç ÊUuÇ ÊUuU s Uë uU (´²) 5FÑÃè 5MÇ s æuJ "qOdÇ" (Ò)
éu jG{ X% (á ç ¶°) XONdN WÑÏ 5
ÉÑÇd WÑÏ vK ë bF ë zU
ë O
.WFd*Ç WuÇ vK q Ñ±´[¶µ éèU
.(Ì) WUÇ ÉÏU*U tOK ÕuBM*Ç vMF*Ç t æuJ "êÑUÇ áUAÇ" (Í)
ÁÇdÅ bF ¬`C vuuO VOd éÃ v d äèÃ UUMF "WÑUÇ XeÇ d" -± (×)
pÐ æU ULK WOÇu Uë u (³°) 5 vK be Éb* UNOK ÊÇÑU Ç
äèdÇ ÌUÅ WUM rEM Uë Iè äÇu_Ç lOL v pÐ æuJ æÃ vK ¬Uë OKL
‫صورة إ‬
vK ÉÑÏU UNÃ ¬WONÇ WdF0 pÐ s oIÇ bFè ¬WOd*Çè WuI*Ç WLOK Ç
åuOÇ v XeÇ s qOd (²°°°) vHÃ s j
u*Ç v qI äbF0 ÌUÇ
XeÇ d" áUAÇ aÑU æuJè .pÐ á vK WONÇ XIÇè ÇÐÅ Å (é/È)‫لك‬
‫تروني‬
.o
U* Uë Iè UNULÅè dÇ pK ÑU Ç aÑU u "WÑUÇ
ÁÇdÅ bF ¬`C vuuO VOd éÃ v d äèÃ UUMF "WÑUÇ ÒUGÇ d"-²
‫ة ال يع‬
pÐ æU ULK WOÇu Uë u (³°) 5 vK be Éb* UNOK ÊÇÑU Ç
äèdÇ ÌUÅ WUM rEM Uë Iè äÇu_Ç lOL v pÐ æuJ æÃ vK ¬Uë OKL
‫تد بها‬
vK ÉÑÏU UNÃ ¬WàONÇ WdF0 pÐ s oIÇ bFè ¬WOd*Çè WuI*Ç WLOK Ç
åb (±µ[°°°[°°°) æuOK dA W L s j
u*Ç v qI äbF0 ÌUÇ
‫عند ا‬
æuJè .pÐ á vK WONÇ XIÇè ÇÐÅ Å åuOÇ v ÒUGÇ s WO

UO VFJ
Uë Iè UNULÅè dÇ pK ÑU Ç aÑU u "WÑUÇ ÒUGÇ d" áUAÇ aÑU
‫ل‬
‫تداول‬
.o
U*
±· ²°²² WM
dÇ Ébd'Ç
(f) "LPG" means Liqueed Petroleum Gas, which is a mixture composed

mainly from propane (C3) and butane (C4) liqueed by pressure and
temperature, in addition to a denite percentages of Ethane (C2) and
Pentane plus (C5+), according to the Egyptian standard specications
for the LPG product.
(g) A "Barrel" shall consist of forty-two (42) United States gallons, liquid
measure, corrected to a temperature of sixty degrees Fahrenheit (60OF)
at atmospheric pressure of 14.65 PSIA.
(h) "Commercial Discovery" has the meaning as set forth in Article III (c).
(i) (1) "Commercial Oil Well" means the rst well on any geological
feature which after testing for a period of not more than thirty (30)
consecutive days where practical, but in any event in accordance
with sound and accepted Petroleum industry production practices,
‫صورة إ‬
and veried by EGPC, is found to be capable of producing at the
average rate of not less than two thousand (2000) Barrels of Oil
per day (BOPD) unless otherwise agreed by EGPC. The date of
‫لك‬
discovery of a "Commercial Oil Well" is the date on which such
‫تروني‬
well is tested and completed according to the above.
(2) "Commercial Gas Well" means the rst well on any geological
‫ة ال يع‬
feature which after testing for a period of not more than thirty (30)
consecutive days where practical, but in any event in accordance
with sound and accepted Petroleum industry production practices
‫تد بها‬
and veried by EGPC, is found to be capable of producing at the

average rate of not less than fteen million (15,000,000) standard
‫عند ا‬
cubic feet of Gas per day (MMSCFD) unless otherwise agreed by

EGPC. The date of discovery of a "Commercial Gas Well" is the
‫ل‬
date on which such well is tested and completed according to the

‫تداول‬
above.
²°²² WM
dÇ Ébd'Ç ±¸
.WOdFÇ dB WÑuNL UUMF ".Ù.å.Ì" (é)

äèUI*Çè WONÇè WuJ(Ç VU s WOUHÇ çc h lOu aÑU vMF "æUd Ç aÑU" (ã)
.WOUHU ÕU)Ç æuUIÇ Ñèb bF
.êÏO*Ç .uIÇ V ÇdëN (±²) dA vMÇ Éd UUMF "WM Ç" -± (ä)
ÁÇbÇ éÏO*Ç .uIÇ V ÇdëN (±²) dA vMÇ Éd UUMF "WO1uIÇ WM Ç" -²
.dL Ï ³± v dUM äèÃ s
..Ù.å.Ì `zÇuè 5ÇuI Uë I WOuJ(Ç WOU*Ç WM Ç UUMF "WOU*Ç WM Ç" -± (å)
ë (±²) dA vMÇ Éd UUMF "WOdCÇ WM Ç" -²
..Ù.å.Ì `zÇuè 5ÇuI Uë I ÇdN
v Å .("äèUI*Ç uC"à ÉÏdHM Wd q vÅ ÑUAè) dÃ èÃ Wd æuJ b "äèUI*Ç" (æ)
WOUHÇ çc v äèUI*Ç ¬WOUHÇ çc s sdAFÇè WÏU(Ç ÉÏULK Uë I qbFÇ WU
."ubÇ" äèdÇ WOLMè áUAJ
WdB*Ç WOM uÇ WdAÇ vMF
:WdAÇ UUMF "WFUÇ WdAÇ" (Ó)
‫صورة إ‬
rN
Ã WKL ÊUULÇ v ÊÇu_Ç WOK_ Wu*Ç UNUL
ÃÑ rN
Ã æuJ vÇ -±
èÃ ¬WOUHÇ çc áÇd Ã b_ ÉdU dO èÃ ÉdU WuK2 WdAÇ çc äUL
ÃÑ
‫لك‬
ÊÇu_Ç WOK_ Wu äUL
ÃÑ rN
_ ÉdU dO èÃ ÉdU WJU*Ç æuJ vÇ -²
‫تروني‬
èÃ ¬WOUHÇ çc áÇd Ã bÃ rN
Ã WKL ÊUULÇ v
rN
Ã WKL ÊUULÇ v ÊÇu_Ç WOK_ Wu*Ç UNUL
ÃÑ rN
Ã æuJ vÇ -³
‫ة ال يع‬
rN
Ã WKL ÊUULÇ v ÊÇu_Ç WOK_ Wu*Ç äU*Ç ÓÃÑ rN
Ãè WdAÇ çc
.WdAÇ pK fHM ÉdU dO èÃ ÉdU WuK2 WOUHÇ çc áÇd Ã s ád
‫تد بها‬
ndF æS ¬Wd s dÃ s æuJ äèUI*Ç æu ¬äÒUMÇ WU v ¬pAÇ VM
.äÒUM*Ç äèUI*Ç ÊÇÐ vÅ WFU Wd vMF WFUÇ WdAÇ
(³) Ë x ozUÏ (³) Ë WIUD WOMdÇ UN UI WU vMF "Y ÙUD" (Ù)
‫عند ا‬
sJÃ ULK ¬wèbÇ ÊUOÇbÇ åUEM Uë I äuDÇè ÖdFÇ ×uD ÊULO I s ozUÏ
v 5 u UL çc åÇeÇ WOUHÇ UNODG vÇ WIDMLK WLzUIÇ ÏèbK èÃ ¬pÐ
‫ل‬
‫تداول‬
."Ã"oK*Ç
±¹ ²°²² WM
dÇ Ébd'Ç
(j) "A.R.E." means ARAB REPUBLIC OF EGYPT.

(k) "Effective Date" means the date on which the text of this Agreement is
signed by the GOVERNMENT, EGPC and CONTRACTOR, after the
relevant Law is issued.
(l) (1) "Year" means a period of twelve (12) months according to the
Gregorian Calendar.
(2) "Calendar Year" means a period of twelve (12) months according
to the Gregorian Calendar being 1st January to 31st December.
(m) (1) "Financial Year" means the GOVERNMENT’s nancial year
according to the laws and regulations of the A.R.E..
(2) "Tax Year" means the period of twelve (12) months according to
the laws and regulations of the A.R.E..
(n) "CONTRACTOR" could be one company or more (each company to
be individually referred to as a "CONTRACTOR Member"). Unless
modied in accordance with Article XXI herein, CONTRACTOR
under this Agreement shall mean EGYPTIAN NATIONAL
COMPANY "ENPEDCO".
‫صورة إ‬
(o) An "Afliated Company" means a company:
(i) of which the share capital, conferring a majority of votes at
stockholders’ meetings of such company, is owned directly or
indirectly by a party hereto; or
‫لك‬
(ii) which is the owner directly or indirectly of share capital conferring
‫تروني‬
a majority of votes at stockholders’ meetings of a party hereto; or
(iii) of which the share capital conferring a majority of votes at
‫ة ال يع‬
stockholder’s meetings of such company and the share capital
conferring a majority of votes at stockholders’ meetings of a party
hereto are owned directly or indirectly by the same company.
For the avoidance of doubt, in case of Assignment,
‫تد بها‬
CONTRACTOR is comprised of more than one company,

Afliated Company shall mean an Afliated Company of the
same assignor CONTRACTOR.
‫عند ا‬
(p) "Exploration Block" shall mean an area, the corner points of which
have to be coincident with three (3) minutes by three (3) minutes
latitude and longitude divisions, according to the International Grid
‫ل‬
‫تداول‬
System where possible or with the existing boundaries of the Area

covered by this Concession Agreement as set out in Annex "A".
²°²² WM
dÇ Ébd'Ç ²°
ÉbÇè WIOÏ x (±) ÉbÇè WIOb WIUD WOMdÇ UN UI WU vMF "WOLM ÙUD" (á)
sJÃ ULK ¬wèbÇ ÊUOÇbÇ åUEM Uë I äuDÇè ÖdFÇ ×uD ÊULO I s (±)
."Ã" oK*Ç
Uë OuuO Uë Od vDG vÇ WOLMÇ ÊUUD èÃ ÙUD vMF "WOLM (ÏuI) bI" (Õ)
ÉbÇè WIOÏ x (±) ÉbÇè WIOb WIUD WOMdÇ t UI æuJ ¬ÌUÇ vK ÇÑÏU ë
sJÃ ULK ¬wèbÇ ÊUOÇbÇ åUEM Uë I äuDÇè ÖdFÇ ×uD ÊULO I s (±)
."Ã" oK*Ç
.UNIè çc åÇeÇ WOUHÇ vMF "WOUHÇ" (â)
ë
WONÇè (5FzU ULNHB) äèUI*Çè WONÇ 5 Uë uJ ÇbI vMF "ÒU lO bI" (Ñ)
tOK oH YU ád èÃ (ÓUÅ) WOFODÇ ÊÇÒUGK WCUIÇ WdB*Ç WdAÇ èÃ
‫صورة إ‬
bI s ÒUGÇ ÊUFO0 WU)Ç ×èdAÇè ÕuBMÇ vK éu écÇè (dA UNHB)
.WFU Ç ÉÏU*Ç s (à) ÉdIHK Uë Iè ådÃ WOLMK
(±) bÇè VFJ åb Áq* WÒÇ ÒUGÇ WOL vMF (SCF)"w
UOIÇ VFJ*Ç åbIÇ" (Ô)
‫لك‬
ÉÑÇd WÑÏ bMè WFd*Ç WuÇ vK q Ñ±´[¶µ éèU éu jG{ bààààààM ÚÇdHÇ s
‫تروني‬
.(á ç ¶°) XONdN WÑÏ 5
‫ة ال يع‬
XAÃ WOuU WOB vè WOFODÇ ÊÇÒUGK WCUIÇ WdB*Ç WdAÇ vMF "ÓUÅ" (Ê)
æuUIK Uë I è qbF s tOK q ÏÃï U0 ²°°± WM ±°°¹ rÑ ÁÇÑÒuÇ fOzÑ ÑÇdI
.qbF s tOK q ÏÃ U0 ±¹¹± WM ²°³ rÑ
‫تد بها‬
ÑU Ç `{u dÃ èÃ (±) ÉbÇè WM

UNbè éu *Ç WFOÑ WD vMF "WOLMÇ WD " (Ë)
ÑU*Ç WOLMÇ åuNH `{uè WIDM*U ÊUO UO q_Ç äG
vOÇd
Ç
‫عند ا‬
vK;Ç âu Ç ÊUKD rb åb *Ç qI(Ç dL äÇu ÌUÇ WD .bI ÈuKD*Ç
WDA WCdFÇ ×uD)Ç WOLMÇ WD Ïb%è ÊUHJ*Çè ÒUGÇè XeÇ s vÑU)Çè
‫ل‬
‫تداول‬
.WOLMÇ bI ÊUUD q ÇÏ áUAJ

Çè WOLMÇ qÇd ä UÄÇdÅ ÈuKD*Ç
²± ²°²² WM
dÇ Ébd'Ç
(q) "Development Block" shall mean an area, the corner points of which
have to be coincident with one ( 1 ) minute by one (1) minute latitude
and longitude divisions, according to the International Grid System
where possible or with the existing boundaries of the Area covered by
this Concession Agreement as set out in Annex "A".
(r) "Development Lease(s)" shall mean the Development Block or Blocks
covering the geological structure capable of production, the corner
points of which have to be coincident with one (1) minute by one (1)
minute latitude and longitude divisions according to the International
Grid System where possible or with the existing boundaries of the
Area covered by this Concession Agreement as set out in Annex "A".
(s) "Agreement" shall mean this Concession Agreement and its Annexes.
(t) "Gas Sales Agreement" shall mean a written agreement between EGPC
and CONTRACTOR (as sellers) and EGPC or The Egyptian Natural
Gas Holding Company "EGAS" or a mutually agreed third party (as
‫صورة إ‬
buyer), which contains the terms and conditions for Gas sales from a
Development Lease entered into pursuant to Article VII (e).
(u) "Standard Cubic Foot" (SCF) is the amount of Gas necessary to ll one
‫لك‬
(1) cubic foot of space at atmospheric pressure of 14.65 PSIA at a base
‫تروني‬
temperature of sixty degrees Fahrenheit (60o F).
(v) "EGAS" means the Egyptian Natural Gas Holding Company a legal
‫ة ال يع‬
entity created by the Prime Minister Decree No. 1009 of 2001 as
amended and according to Law No. 203 of 1991 as amended.
(w) "Development Plan" means a plan which on high level basis and
‫تد بها‬
covering one (1) year or more , sets out the strategic framework for
the efcient exploitation of the reserves in the Area and describes
‫عند ا‬
the selected development concept required to deliver life of eld

production proles used to support the requirements of domestic
and external markets of Oil, Gas and condensate .The Development
‫ل‬
‫تداول‬
Plan outlines the activities to be conducted during the phases of

Development and Exploration within Development Lease Blocks.
²°²² WM
dÇ Ébd'Ç ²²
vK qLAè) ÊUBBÇ ÉÏbF*Ç WÏU*Ç WDA_Ç pK vMF "WOLMÇ qL ZUd" (Î)
(`D Ç X% äULÃè ÊUèdA*Ç ÉÑÇÏÅè WO
bMNÇ æuAÇè dH(Ç dB(Ç äU*Ç qO
.tOK oH*Ç aÑUÇ v ZM*Ç rOK WOU WM

ä v UN åUOIÇ V vÇè
ÉÑÇd WÑÏ ld WÒÇ WUDÇ s WOL vMF "BTU" "WOUDdÇ WÑÇd(Ç ÉbuÇ" (Ð)
5
s (á ç ±) ÉbÇè XONdN WÑÏ ÑÇbI0 WOIMÇ çUO*Ç s (±) ÇbÇèë ë Ñ
XU jG{ bM XONdN WÑÏ (á ç ¶±) 5
è bÇè vÅ XONdN WÑÏ (á ç ¶°)
.WFd*Ç WuÇ vK q Ñ±´[¶µ çÑÇbI
XeÇ s WLEM*Ç ÊUMAK t kH;Çè ZM*Ç äèdÇ vMF "êÑUÇ ÌUÇ" -± (Ö)
.ÒUGÇ s WLEM*Ç ÊULOK Ç èÃ åU)Ç
ÊUM äèÃ rOK tO r écÇ aÑUÇ vMF "êÑUÇ ÌUÇ Áb aÑU" -²
.ÒUGÇ s WLEM ÊULOK äèÃ èÃ åU)Ç XeÇ s WLEM
‫صورة إ‬
X
Q bàààè (uààJààààOààUàà) Wààdàà vààMààFàà "ÊUààOààKààLààFààUàà WààLààzUààIààÇ WààdààAà Ç" ( Ã Ã )
UNKÃ b1è ¬ ²°±¹ WM ±³¶ rÑ æuUIÇ åUJÃ Vu0 ²°²°/¹/ ±· aÑU
.WOUHÇ çc áÇd Qè WOUHÇ çc q_ WèU WOMÒ ÉdH ‫لك‬
‫تروني‬
qJ WKUJ WOLÑ WBM vMF "EUG" "ÌUÇè áUAJ
dB WÇu" (È È)
s r ¬("EUG"à vK ULO UNOÅ ÑUAï è) UdOè ÌUÇè áUAJ
Ç ÊUUO
‫ة ال يع‬
WÑUL
Ç ÕdHK ZèdÇè Wb(Ç ÊUUOÇ ÉÑÇÏÅè WK *Ç ÊUUOÇ kH UN
s äèUI*Ç lOD UL ¬WO*UFÇ ÊÇbÇe*Ç Íd ä s Ébb ÊÇÑUL
Ç Ècè
‫تد بها‬
ÊUuKF*Çè ÊUUOÇ q rOK è äÏUè l qUFÇè åÇb

Çè vÅ äuuÇ UN
ÌUÇè áUAJ
Ç WDAQ WDd*Ç UdOè WOIeOuO'Çè WOuuO'Ç ÊU
ÇÑbÇè
‫عند ا‬
.dB v
cM åÇeÇ WOUHÇ WIDM s ZM*Ç äèdÇ WOL vULÅ vMF "wLÇdÇ ÌUÇ" (Ì Ì)
‫ل‬
‫تداول‬
.ÌUÇ Áb
²³ ²°²² WM
dÇ Ébd'Ç
(x) "Development Work Program" means those planed physical multi-

disciplinary activities (including but not limited to drilling,
engineering, projects, subsurface) required to be undertaken within
a Financial Year to deliver the Production upon the agreed date.
(y) "BTU" British Thermal Unit means the amount of energy required
to raise the temperature of one (1) pound of pure water by one (1o F)
degree Fahrenheit from sixty degrees Fahrenheit (60o F) to sixty one
degrees Fahrenheit (61o F) at a constant pressure of 14.65 PSIA.
(z) 1. "Commercial Production" means Petroleum produced and saved for
regular shipment of Crude Oil or regular Gas deliveries.
2. "Commercial Production Commencement Date" means the date
on which the rst regular shipments of Crude Oil or rst regular
deliveries of Gas are made.
‫صورة إ‬
(aa) "Operating Company" means "NAPETCO" COMPANY established
on 17/9/2020 under the provisions of Law No. 136 of 2019, that
its term shall be extended for a period equal to the term of this
‫لك‬
Agreement and by the concerned parties to this Agreement.
‫تروني‬
(bb) "Egypt Upstream Gateway" means an integrated digital platform for
all upstream (Exploration & Production) and other data (hereinafter
‫ة ال يع‬
referred to as "EUG") to preserve legacy data, manage active data
and promote the upstream opportunities and attract new investments
through international bid rounds and through which CONTRACTOR
‫تد بها‬
can access, use, trade and deliver all data, information and geological
and geophysical and other studies for the upstream activities in
‫عند ا‬
Egypt.
(cc) "Cumulative Production" means the total quantity of Petroleum
‫ل‬
produced from the Concession Agreement Area starting from the

‫تداول‬
commencement of Production.
²°²² WM
dÇ Ébd'Ç ²´
cOHMÇ WOÂ WMLC ¬WOLMÇ WD l Uë MÇe äèUI*Ç UNbI WD vMF "dNÇ WD " (ÏÏ)
qLAè ¬WOUHÇ çc s (Ï) WUÇ ÉÏULK Uë I ¬WONÇ UNOK oÇuè ÏÇÏd
Çè
qJA WOèdÇ ÊUOKLFÇ áUI WÒÇ ÊÇÁÇdÇ dB(Ç fOè äU*Ç qO
vK
5ÇuIÇ oOD ÉUÇd l ¬äèdÇ WUM v WOd*Çè WLOK Ç äu Uë I vzUN
.WOUHÇ çc s dA WMUÇ ÉÏU*U ÉÏÑÇuÇ
ÇÐÅ ) äèUI*Ç ÁUCÃ bÃ èÃ (ÉbÇè Wd æU ÇÐÅ) äèUI*Ç vMF "ÊUOKLFU rzUIÇ" (àà àà)
tu vÇ WN'Ç æuJO rNdF0 çÑUO Å r ¬äÇu_Ç V (Wd s dÃ ÇuU
.çc åÇeÇ WOUHU WKBÇ ÊÇÐ èÃ WIKF*Ç ÊÇÑUD Ç WU UNL
Qè UNMè UNOÅ
.ÊUOKLFU rzUIÇ r
U WONÇ ÑUD Å äèUI*Ç vK Vè
WOU« …œU*«
ΔϳϗΎϔΗϻ΍ ϕΣϼϣ
‫صورة إ‬
ÑUàAè WOUHÇ çc UNLJ%è UNKLA vÇ WIDMLK nè s ÉÑU "΃" ϕ˰˰˰˰˰˰˰˰ΣϠϣϟ΍
."WIDM*Ç" à vK ULO UNOÅ
vdI r
Ñ ÓUOI0 Wu
d WOO{u WOzb WDd s ÉÑU "Ώ" ϕ˰˰˰˰˰˰ΣϠϣϟ΍
‫لك‬
‫تروني‬
WOUHÇ çc UNLJ%è UNKLA vÇ WIDM*Ç 5 ¶°°[°°°:±
."Ã" oK*Ç v Wuu*Çè
‫ة ال يع‬
äèdÇ dÒè lOu q WONK äèUI*Ç tbI æUL{ ÈUD WGO "˻/˺-Ν" ϕ˰˰ΣϠϣϟ΍
5 WFÑÃ mK0 pÐè ¬q_Ç vK (±) bÇè åuO WOUHÇ çc vK
‫تد بها‬
¬WàààààOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (´[°°°[°°°)

ÊUOKL v tUÇeÇ sàà vÏ_Ç bàÇ cOHM äèUI*Ç åUOI Uë UL{
‫عند ا‬
Ë WààGUÇ WOè_Ç YàÇ ÉdH WOUHÇ çc v ÉÏÑÇuÇ YÇ

ÉdH WOè_Ç YÇ Éd b0 äèUI*Ç åU ÇÐÅ Uà WU v .ÊÇuM
(³)
‫ل‬
ÉÏULK Uë Iè ÊÇuM

(³) Ë UNb WI WOU{Å (±) ÉbÇè
‫تداول‬
²µ ²°²² WM
dÇ Ébd'Ç
(dd) "Decommissioning Plan" means a plan, including the mechanism of

execution and recovery, submitted by CONTRACTOR in parallel
with the Development Plan and approved by EGPC according to
Article III (d) of this Agreement, including but not limited to, the
proper measures to terminate the Petroleum Operations conclusively,
in accordance with sound and accepted Petroleum industry practices,
subject to the applicable laws of Article XVIII of this Agreement.
(ee) "The Operator" means CONTRACTOR (if it is one company) or
one of the CONTRACTOR Members ( if they are more than one
company), as the case may be, appointed by them to be the entity
to which, from which and in whose name all notications related
to or in connection with this Concession Agreement shall be made.
CONTRACTOR shall notify the name of the Operator to EGPC.
ARTICLE II
ANNEXES TO THE AGREEMENT
‫صورة إ‬
Annex "A" is a description of the Area covered and affected by this
Agreement, hereinafter referred to as the "Area".
Annex "B" is a provisional illustrative map on the scale of approximately
‫لك‬
1:600,000 indicating the Area covered and affected by this
‫تروني‬
Agreement and described in Annex "A".
Annex "C-1/2" is the form of a Letter of Guaranty to be submitted
‫ة ال يع‬
by CONTRACTOR to EGPC at least one (1) day
before the time of signature by the Minister of
Petroleum of this Agreement, for the sum of four
‫تد بها‬
million U.S. Dollars ($4,000,000), guaranteeing

the execution of CONTRACTOR’s minimum
Exploration obligations hereunder for the initial three
‫عند ا‬
(3) year Exploration period. In case CONTRACTOR

extends the initial Exploration Period for one (1)
‫ل‬
additional successive period of three (3) years,

‫تداول‬
in accordance with Article III (b) of this Agreement,

²°²² WM
dÇ Ébd'Ç ²¶
tbIè çÑbB qU2 æUL{ ÈUD æS ¬WOUHÇ çc s (È) WUÇ
ÈUD .ÏÇbÇ v tI äèUI*Ç ÓÑU1 écÇ åuOÇ v pÐè äèUI*Ç
s ÑèÏ (³[°°°[°°°) 5 W mK0 æuJO
Çc æULCÇ
WÃ WU(Ç çc v tM rBè WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ
Uë I UNKOd ÍuL WIU Ç YÇ Éd ä UNUHÅ - ÉbzÇÒ ÊUIH
Ïuè WU vè .WOUHÇ çc s WUÇ ÉdIHÇ (È) WFÇdÇ ÉÏULK
Y Éd éÃ s äèUILK vU*Ç åÇeÇ WLO 5 âdHÇ uè) e éÃ
(WOMF*Ç åÇeÇ Éd fH s WONÇ tbLÇ U vULÅ tM Uë èdD
æÅ ¬WIU Ç ÉdHÇ s WONÇ s ÉbLF WKd mU éÃ vÅ WU{U
dA W L ä è .eFÇ Çc WLOI WU ë äèUI*Ç WONÇ dD ¬bè
eFÇ WLO qu äèUI*Ç åuI ¬ÑUD Ç Çc aÑU s Uë u (±µ)
ä Çc eFÇ WLO qu äèUI*Ç rI r ÇÐÅè WONÇ ÈU vÅ
æULCÇ ÈUD qOO WONK o ¬ÉÑuc*Ç Uë u (±µ) dA W L)Ç
‫صورة إ‬
(²) æULCÇ vUD s ë dL è .eFÇ WLO vÅ ë uè vMF*Ç
ÑÇbÅ - vÇ YÇ Éd WUN bF dNÃ (¶) W
Éb* äuFH*Ç UÑU
Çc q tO vNM æÃ Òu tÃ Å ¬UNQA æULCÇ ÈUD ‫لك‬
‫تروني‬
.WOUHÇ çc v æULCÇ ÈUD åUJ_ Uë Iè aÑUÇ
ÊUIHM Uë uM
lÑ ULNCOH r çÃ sÑuc*Ç æULCÇ (²) vUD
‫ة ال يع‬
UNbLÇè UNFÏè ÊUOKLFÇ vK UNKOL äèUI*Ç åU vÇ YÇ

.WOMF*Ç YÇ Éd s WONÇ
‫تد بها‬
ÊUI bOL o(Ç WONK vDF ÈUD .bI äèUILK o

ÉdHÇ s WI *Ç WOU*Ç tUÇeÇ mK éèU U0 WONÇ éb äèUI*Ç
‫عند ا‬
.cMO
í WÑU'Ç
tOK ÕuBM*Ç ÊUOKLFU WLzUIÇ WdAÇ fO
Q bI WGO s ÉÑU "Ω" ϕ˰˰˰˰˰˰ΣϠϣϟ΍
‫ل‬
‫تداول‬
.WOUHÇ çc v W
ÏU Ç ÉÏU*Ç v
²· ²°²² WM
dÇ Ébd'Ç
similar Letter of Guaranty shall be issued and

be submitted by CONTRACTOR on the day the
CONTRACTOR exercises its option to extend. The
Letter of Guaranty shall be for the sum of three million
U.S. Dollars ($3,000,000) less in this instance any
excess expenditures of the preceding Exploration period
permitted for carry forward in accordance with Article
IV (b) third paragraph of this Agreement. In case of
any Shortfall (the difference between the amount of
CONTRACTOR's nancial obligation of any Exploration
period minus the total amount approved by EGPC for
the same concerned obligation period), plus any carry
forward approved by EGPC from the previous period,
if any , EGPC shall notify CONTRACTOR in writing
by the value of such shortfall . Within fteen (15) days
from the date of this notication, CONTRACTOR shall
transfer the amount of the shortfall to EGPC's account
and if CONTRACTOR did not transfer this shortfall
‫صورة إ‬
within the mentioned fteen (15) days, EGPC has the
right to liquidate the concerned letter of Guaranty up to
the amount of the shortfall. Each of the two (2) Letters of
‫لك‬
Guaranty shall remain effective for six (6) months after
‫تروني‬
the end of the Exploration period for which it has been
issued except as it may be released prior to that time in
accordance with the terms thereof.
‫ة ال يع‬
The two (2) Letters of Guaranty mentioned above shall
be reduced quarterly by Exploration Expenditures
incurred and paid by CONTRACTOR on operations
‫تد بها‬
and approved by EGPC for the concerned Exploration

period.
The CONTRACTOR has the right to submit a letter
‫عند ا‬
entitles EGPC to solidify from the CONTRACTORS

dues an amount equal to the nancial commitment of the
then current phase.
‫ل‬
‫تداول‬
Annex "D" is the form of a Charter of the Operating Company formed as

provided for in Article VI hereof.
²°²² WM
dÇ Ébd'Ç ²¸
.w
U;Ç åUEMÇ "˰ϫ" ϕ˰˰˰˰ΣϠϣϟ΍
.WuJ(Ç WdF0 ÉQAM*Ç WOuIÇ ÒUGÇ VOUÃ ×uD WJA WOU(Ç WDd)Ç "ϭ" ϕ˰˰˰˰˰ΣϠϣϟ΍
æuJè .ÒU lO bIF Uë Iè ÒUGÇ rOK WDI vK äèUI*Çè WONÇ oH
WDI ÈdQ WOLMÇ bI WIDM VOUÃ j ÁUIÇ bM çc rOK Ç WDI
"è" oK*Ç pc `{u u UL WOuIÇ ÒUGÇ VOUÃ ×uD WJ vK
.äèUI*Çè WONÇ 5 pc Uë tOK oH UL èÃ
ë "è" è "à" è "Ï" è "²/±-Ì" è "È" è "Ã" o*Ç dFè
ÇÁe
ÕuB äuFHè Éu ÊÇÐ o*Ç çcN æuJè ¬WOUHÇ çc s Ãe
.WOUHÇ çc
WU« …œU*«
ΓΩϣϟ΍ϭ ϕϭϘΣϟ΍ ΢ϧϣ
‫صورة إ‬
ë
Wuu*Ç WIDM*Ç v ULNOK ÇÑuBI Uë ÇeÇ äèUI*Çè WONK WOUHÇ çc vCI0 WuJ(Ç `M9
WOUHÇ çc v WMO*Ç ×èdAÇè ÊÇbNFÇè ÕuBMK Uë Iè pÐè ¬"È" è "Ã" 5IK*Ç v
rÑ æuUIÇ åUJÃ s éÃ l UNM ÖÑUF èÃ nK b ULO æuUIÇ Éu UN æuJ vÇè
‫لك‬
‫تروني‬
.tbFè ±¹µ³ WM ¶¶
ë ÉèUÅ ¬bF ULO tOK ÕuBM u U u vK ¬o è WuJ(Ç pK9 (Ã)
Uë MO èÃ ÇbI
‫ة ال يع‬
WIDM*Ç s t kH;Çè ZM*Ç äèdÇ WOL ÙuL s (¥±°) WzU*Ç v ÉdA W M
è UNFbè ÉèUÇ çc WONÇ qLè .bbÇ Éb pÐ v U0 WOLMÇ Éd ÁUMÃ
‫تد بها‬
.äèUILK V M ë Ï pÐ ÑUÇ ÊÇèU WONÇ lÏ vK Vd è .äèUI*Ç UN åeK
äèUI*Ç `M1è .æUd Ç aÑU s ÊÇuM
(³) Ë UNb YK WOèÃ Éd Ãb (È)
‫عند ا‬
ë
¬wÇuÇ vK ÊÇuM
(³) Ë tb ¬WOè_Ç YÇ ÉdH Uë I (±) ÇbÇè ë
ÇÏÇbÇ
vK Uë u (³°) 5 o vU ÑUD Å Vu0 äèUI*Ç ÑUO Ç vK ÁUM pÐè
‫ل‬
‫تداول‬
YÇ Éd WUN ÒèU Éb v tU

ÑÅ V ÑUD Ç Çcè ¬WONÇ vÅ tK
d q_Ç
²¹ ²°²² WM
dÇ Ébd'Ç
Annex "E" is the Accounting Procedure.

Annex "F" is a current map of the National Gas Pipeline Grid System
established by the GOVERNMENT.
The point of delivery for Gas shall be agreed upon by EGPC
and CONTRACTOR under a Gas Sales Agreement, which
point of delivery shall be located at the ange connecting
the Development Lease Pipeline to the nearest point on the
National Gas Pipeline Grid System as depicted in Annex "F"
or as otherwise agreed by EGPC and CONTRACTOR.
Annexes "A", "B", "C-1/2", "D","E" and "F" to this Agreement
are hereby made part hereof, and they shall be considered as
having equal force and effect with the provisions of this
Agreement.
ARTICLE III
GRANT OF RIGHTS AND TERM
‫صورة إ‬
The GOVERNMENT hereby grants EGPC and CONTRACTOR subject
to the terms, covenants and conditions set out in this Agreement, which
insofar as they are contrary to or inconsistent with any provisions of Law
No. 66 of 1953, as amended, shall have the force of Law, an exclusive
‫لك‬
concession in and to the Area described in Annexes "A" and "B".
‫تروني‬
(a) The GOVERNMENT shall own and be entitled, as hereinafter
provided, to a royalty in cash or in kind of ten percent (10%) of the
‫ة ال يع‬
total quantity of Petroleum produced and saved from the Area during
the Development period including renewal. Said royalty shall be borne
and paid by EGPC and shall not be the obligation of CONTRACTOR.
‫تد بها‬
The payment of royalties by EGPC shall not be deemed to result in

income attributable to the CONTRACTOR.
(b) An initial Exploration period of three (3) years shall start from
‫عند ا‬
the Effective Date. One (1) successive extension to the initial

Exploration period, of three (3) years respectively, shall be granted to
‫ل‬
CONTRACTOR at its option, upon not less than thirty (30) days prior
‫تداول‬
written notice to EGPC, such notice to be given not later than the end
²°²² WM
dÇ Ébd'Ç ³°
tzUè éu
×d éÃ æèÏ pÐè ¬(Ã) W U)Ç ÉÏU*Ç åUJ_ Uë Iè Ub - ÇÐÅ ¬WOU(Ç
oOI% r r ÇÐÅ WOUHÇ çc vNMè .ÉdHÇ pK s WOUHÇ çc vCI0 tUÇeU
Éd s (¶) W
ÏU Ç WM Ç WUNM ÒUGK éÑU& áUAÇ èÃ XeK éÑU& áUAÇ éÃ
åUOIÇ WONÇ ÑUO Ç vK Vd è .(Ã) W U)Ç ÉÏULK Uë Iè Ub - ÇÐÅ ¬YÇ
èÃ ¬YÇ Éd b vK ULO ÉÏÑÇuÇ (Ì) ÉdIHÇ Vu0 ¬WÏÇdHÇ WOu *Ç WOKLF
.äèUILK W MU WOUHÇ çc ÁUNÇ vKdOQÇ
:ϱέΎΟΗϟ΍ ϑΎηΗϛϻ΍ (Ì)
èÃ ZM bÇè æÇe s æuJ b ¬ÒUGÇ èÃ XeK ÁÇu
¬êÑUÇ áUAÇ (±)
d áUAÇ bFè .Uë ÑU& vLM æÃ o vÇè WM*Ç ÊUÇe)Ç s WuL
¬WONÇ l pÐ á vK oH r U ¬bNF äèUI*Ç æS ÒUGÇ èÃ XeK WÑU&
d dH pÐè áUAÇ rOOI YU ÕU)Ç tUd s Áe åuI æQ
vLM æÃ o áUAÇ Çc æU ÇÐÅ U ddI WOLOOIÇ ÑUÇ s dÃ èÃ
‫صورة إ‬
ÌUÇè UNOK äuB(Ç sJ1 vÇ ÊUO UOÇ ÑUÇ v c _Ç lè ¬Uë ÑU&
WUè äèdK ÉÑbI*Ç ÑUF
_Çè UNUNM WuKD*Ç ÊÇeONÇè VOU_Ç ×uD è
‫لك‬
.Ùu{u*U WIKF*Ç éd _Ç WÏUBÇè WOMHÇ qÇuFÇ
‫تروني‬
áUAÇ vuNH åU IÇ åbè Ébè ÖdH WOUHÇ çc v ÉÏÑÇuÇ åUJ_Ç æÅ (²)
hM r U ÒUGÇ è XeÇ vK bu qJA oD áu
è .WOLMÇ bIè éÑUÇ
‫ة ال يع‬
.pÐ á vK bbU

o áUAÇ æÃ çddI Ñu éÑUÇ áUAU WONÇ ÑUD S äèUI*Ç åuI (³)
‫تد بها‬
d W MU äÇu_Ç s äU WQ ¬ÑUD Ç Çc d Q Ã ×dA è Uë ÑU& tOLM
¬WOUÇ WOLOOIÇ dÇ äULÅ aÑU s Uë u (³°) 5 s WÑUÇ XeÇ
‫عند ا‬
5ÑUÇ éÃ WÑUÇ XeÇ d áUAÇ aÑU s ÇdN ë (±²) dA vMÇ èÃ
ë
s ÇdN (²´) sdAè WFÑÃ s WÑUÇ ÒUGÇ d W MU èÃ ¬o
Ã æuJ
‫ل‬
‫تداول‬
çc ÏÇbÇ ÒÇu vK WONÇ XIÇè ÇÐÅ Å) WÑUÇ ÒUGÇ d áUAÇ aÑU
³± ²°²² WM
dÇ Ébd'Ç
of the then current Exploration period, in case it is extended pursuant

to the provisions of Article V (a), and subject only to its having fullled
its obligations hereunder for that period. This Agreement shall be
terminated if neither a Commercial Oil Discovery nor a Commercial
Gas Discovery is established by the end of the sixth (6th) year of the
Exploration period, in case it is extended pursuant to Article V (a).The
election by EGPC to undertake a sole risk venture under paragraph (c)
shall not extend the Exploration period nor affect the termination of
this Agreement as to CONTRACTOR.
(c) Commercial Discovery:
(i) A Commercial Discovery - whether of Oil or Gas - may consist
of one producing reservoir or a group of producing reservoirs
which is worthy of being developed commercially. After
discovery of a Commercial Oil or Gas Well CONTRACTOR
shall, unless otherwise agreed upon with EGPC, undertake as
part of its Exploration program the appraisal of the discovery by
drilling one or more appraisal wells, to determine whether such
‫صورة إ‬
discovery is worthy of being developed commercially, taking into
consideration the recoverable reserves, production, pipeline and
terminal facilities required, estimated Petroleum prices, and all
other relevant technical and economic factors. ‫لك‬
‫تروني‬
(ii) The provisions laid down herein postulate the unity and
indivisibility of the concepts of Commercial Discovery and
‫ة ال يع‬
Development Lease. They shall apply uniformly to Oil and Gas
unless otherwise specied.
(iii) CONTRACTOR shall give notice of a Commercial Discovery
‫تد بها‬
to EGPC immediately after the discovery is considered by

CONTRACTOR to be worthy of commercial development but
in any event with respect to a Commercial Oil Well not later than
‫عند ا‬
thirty (30) days following the completion of the second appraisal

well or twelve (12) months following the date of the discovery
of the Commercial Oil Well, whichever is earlier or with respect
‫ل‬
‫تداول‬
to a Commercial Gas Well not later than twenty four (24) months
following the date of the discovery of the Commercial Gas
²°²² WM
dÇ Ébd'Ç ³²
ÕU)Ç ÑUD Ç Çc q vDF æÃ v Uë CÃ o(Ç äèUILK æuJ æÃ vK¬(ÉdHÇ
ÑUÇ èÃ dÇ XU u v ÊUÇe WÃ èÃ æÇe é_ W MU éÑUÇ áUAU
æU ÇÐÅ pÐè "WÑUÇ dÇ" ndF âUD v "WÑU&" X O UNOK ÉÑuH;Ç
ÑUÇ sJ1 ÊUÇe)Ç s WuL èÃ Uë Çe æÃ ÑUÇ äèUI*Ç dE WNè s sJ1
.WÑUÇ WOLMÇ o WFL UNÃ
UNKu% r æÃ q WIDM*Ç v ÑU Ç d s ZM åU XÒ éÃ ¬tÃ åuNH*Ç sè
v tÇb
Ç r è ¬êÑU& dO èÃ éÑU& d dÇ ÁÇu
¬WOLMK bI vÅ
.WFU Ç ÉÏULK lC è WONK Uë uK2 ¥±°°dF ¬WOèdÇ ÊUOKLFÇ
ë
U WU v XeK éÑUÇ áUAU ÇÑUD Å vDF æÃ v Uë CÃ o(Ç äèUILKè
.ÒUGÇ sI ÉÏU ÙèdA0 åuI æÃ v VÑ ÇÐÅ
ÊUUOÇ WU ÒUGK éÑUÇ áUAU ÕU)Ç ÑUD Ç sLC æÃ vGMè
‫صورة إ‬
WU dbIè ÒUGÇ ÊUO UOÇ vK Wu;Ç WU *Ç WU è áUA WOKOBHÇ
.qI(Ç dLè ÌUÇ äbFè
ÒUGK èÃ XeK éÑU& áUAU ÑUD Å å
Ç bF Uë u (¶°) 5
ä v ‫لك‬
‫تروني‬
ÖdG Ùu{u*Ç ÇcN WU)Ç ÊUUOÇ WU æU{dF è Uë F äèUI*Çè WONÇ lL&
u éÑUÇ áUAÇ aÑU æuJè .êÑU& áUAÇ Ïuè vK Uë u
âUHÇ
‫ة ال يع‬
ë
.êÑUÇ áUAÇ Ïuè vK WU UF äèUI*Çè WONÇ tO oÇu écÇ aÑUÇ
ÒUGK èÃ XeK Uë ÑU& Uë UAÇ äèUI*Ç çdF rè ÒU èÃ åU XÒ áUAÇ - ÇÐÅ (´)
‫تد بها‬
(±) bÇè dN ÁUCIÇ bMèÃ (Ì) ÉdIHÇ çc v çÃ ÉÑuc*Ç åUJ Uë Iè
ÑUD Å ÁUDÅ äèUI*Ç lOD UN v vÇè çÃ ÉÏb;Ç Éb*Ç ÁUNÇ s
‫عند ا‬
ë (±³) dA W ÁUCIÇ bF èÃ ¬ÒUGK èÃ XeK éÑUÇ áUAU

bF ÇdN
ë äèUI*Ç çdF r d äULÅ
‫ل‬
sdAè W L ÁUCIÇ bF èÃ ¬"XeK WÑU& Çd"

‫تداول‬
ë äèUI*Ç çdF r d äULÅ bF ÇdN

æÃ WONK o tS ¬"ÒUGK WÑU& Çd" ë (²µ)
³³ ²°²² WM
dÇ Ébd'Ç
Well (unless EGPC agrees that such period may be extended)

except that CONTRACTOR shall also have the right to give such
notice of Commercial Discovery with respect to any reservoir or
reservoirs even if the well or wells thereon are not "Commercial"
within the denition of "Commercial Well" if, in its opinion, a
reservoir or a group of reservoirs, considered collectively, could
be worthy of commercial development.
It is understood that, any Crude Oil produced from an under-
testing well in the Area before it is converted to a Development
Lease, either considered Commercial or non-Commercial Well,
and not used in Petroleum operations, is 100% owned by EGPC
and not subject to Article VII.
CONTRACTOR may also give a notice of a Commercial Oil
Discovery in the event it wishes to undertake a Gas Recycling
Project.
A notice of Commercial Gas Discovery shall contain all detailed
‫صورة إ‬
particulars of the discovery and especially the area of Gas reserves,
the estimated production potential and prole and eld life.
Within sixty (60) days following receipt of a notice of a
Commercial Oil or Gas Discovery, EGPC and CONTRACTOR
‫لك‬
shall meet and review all appropriate data with a view to mutually
‫تروني‬
agreeing upon the existence of a Commercial Discovery. The
date of Commercial Discovery shall be the date EGPC and
‫ة ال يع‬
CONTRACTOR jointly agree in writing that a Commercial
Discovery exists.
(iv) If Crude Oil or Gas is discovered but is not deemed by
‫تد بها‬
CONTRACTOR to be a Commercial Oil / Gas Discovery under

the above provisions of this paragraph (c), or one (1) month
after the expiration of the period specied above within which
‫عند ا‬
CONTRACTOR can give notice of a Commercial Oil/ Gas

Discovery, or thirteen (13) months after the completion of a
well not considered by CONTRACTOR to be a "Commercial
‫ل‬
‫تداول‬
Oil Well" or after the expiration of twenty ve (25) months after
the completion of a well not considered by CONTRACTOR to be
²°²² WM
dÇ Ébd'Ç ³´
vuuO'Ç VOdÇ s ZM*Ç ÒUGÇ èÃ åU)Ç XeÇ WU v ádBè ZMè vLM
5
bF pÐè ÉÏdHM WONÇ ÈU è WOu è WIH vK¬dÇ tO ÊdH écÇ
bb% ÑUD Ç Çc sLC æÃ Vè .WU pc äèUI*Ç UÑUD Å s Uë u (¶°)
vÇ ÑUÇè ¬tOLM ÏÇd*Ç vuuO'Ç VOdÇ pÐ vDG vÇ ÉÏb;Ç WU *Ç
WÒÇ nOUJK WONÇ dbIè ¬åUI áu
vÇ ÌUÇ ÊON è ¬dH% áu
ÑU æÃ ÑUD Ç pÐ t

Ç s Uë u (³°) 5 ä äèUILK oè .pc
WU v WOUHÇ çc v UNOK ÕuBM*Ç åUJ Uë I WU *Ç pK WOLM WU
ë
dL WOUHÇ çc ÕuB lOL æS WU(Ç çc vè .êÑU& áUAÇ Ïuè
.ÉÏb;Ç WU *Ç çcN W MU UNIOD
pÐ vDG vÇ ÉÏb;Ç WU *Ç æS ¬WU *Ç pK WOLM åb äèUI*Ç ÑU Ç ÇÐÅè
r æÃ vK¬WONÇ WdF0 WÏÇdHÇ WOu *Ç ÊUOKLF VM& vuuO'Ç VOdÇ
‫صورة إ‬
v WOd*Ç WLOK Ç äu Uë Iè äèUI*Çè WONÇ 5 WU *Ç çc vK âUHÇ
WLzUIÇ WdAÇ bÇu WU v èÃ ÊUOKLFU åuI æÃ WONK oè .äèdÇ WUM
‫لك‬
ÊUOKLFÇ pK åUOIÇ ÊUOKLFU WLzUIÇ WdAK bNF æÃ WONK o ÊUOKLFU
‫تروني‬
UÇd éd Ã WId éQ èÃ ¬ÉÏdHM WONÇ ÈU è WOu è WIH vKè WONK
åU)Ç XeÇ s ÊÏd
Ç b WONÇ æuJ UbMè nAJÇ Çc WOLM W
UM WONÇ
‫ة ال يع‬
v äÏUF ÒUGÇ èÃ åU)Ç XeÇ s WOL ÉÏb;Ç WU *Ç pK s ZààM*Ç ÒUGÇ èÃ
åUOIÇ v WONÇ UNKL% vÇ nOUJÇ s (¥³°°) WzU*Ç v WzUL UNLO
‫تد بها‬
pÐ bF ãÑUA æÃ v ÑUO)Ç äèUILK o tS ¬WÏÇdHÇ WOu *Ç ÊUOKLF
lb æÃ qUI ÉÏb;Ç WU *Ç pK v ÌUÇè WOLMàààÇ ÊUOKL sà be*Ç v
‫عند ا‬
Ã vK .WONÇ UNKL% vÇ nOUJÇ pK s (¥±°°) WzU*Ç v WzU WONààK
bÇu WU v Å èÃ WONÇ WIÇu vK äuB(Ç bF Å o(Ç Çc äèUILK æuJ
‫ل‬
‫تداول‬
.WIDM*Ç q ÇÏ d Â æUJ v qI éÑU& ÒU èÃ XÒ áUAÇ

³µ ²°²² WM
dÇ Ébd'Ç
a "Commercial Gas Well", EGPC shall have the right, following

sixty (60) days notice in writing to CONTRACTOR, at its sole
cost, risk and expense, to develop, produce and dispose of all
Crude Oil or Gas from the geological feature on which the well
has been drilled. Said notice shall state the specic area covering
said geological feature to be developed, the wells to be drilled,
the production facilities to be installed and EGPC's estimated
cost thereof. Within thirty (30) days after receipt of said notice
CONTRACTOR may, in writing, elect to develop such area as
provided for in the case of Commercial Discovery hereunder. In
such event all terms of this Agreement shall continue to apply to
the specied area.
If CONTRACTOR elects not to develop such area, the specic
area covering said geological feature shall be set aside
for sole risk operations by EGPC, such area to be mutually
‫صورة إ‬
agreed upon by EGPC and CONTRACTOR on the basis of good
Petroleum industry practice. EGPC shall be entitled to perform or
in the event Operating Company has come into existence, to have
‫لك‬
Operating Company perform such operations for the account of
‫تروني‬
EGPC and at EGPC's sole cost, risk and expense or by any other
means deemed to be appropriate by EGPC for developing such
‫ة ال يع‬
discovery. When EGPC has recovered from the Crude Oil / Gas
produced from such specic area a quantity of Crude Oil/Gas
equal in value to three hundred percent (300 %) of the cost it has
‫تد بها‬
incurred in carrying out the sole risk operations. CONTRACTOR

can have the option, only in the event of EGPC’s approval or in
‫عند ا‬
case there has been a separate Commercial Oil/Gas Discovery,

elsewhere within the Area, to share in further development and
‫ل‬
production of that specic area upon paying EGPC one hundred

‫تداول‬
percent (100%) of such costs incurred by EGPC.

²°²² WM
dÇ Ébd'Ç ³¶
æS ÏÇb Ç pÐ Ñuè .Wub*Ç (¥±°°) WzU*Ç v WzU*Ç pK äèUI*Ç Ïd è
q v éÏU WOLM bI vÅ UNF{è äu æÃ (±) UÅ ¬ÉÏb;Ç WU *Ç pK
(²) èÃ ¬WOUHÇ çc ÕuBM Uë I pÐ bF UNKOGA édè ¬WOUHÇ çc
v åuI WFUÇ UNUd ébÅ èÃ WONÇ XU ÇÐÅ U WU v tS ¬pc qb
WONÇ ÊÑU Çè ¬Ubè UNIH vK WU *Ç pK v WOLMÇ ÊUOKLF XuÇ pÐ
jI äèUI*Ç o è WM qE WU *Ç æS ¬ÊUOKLFU åUOIÇ v dL æÃ
ÉÏU*Ç s (È) ÉdIHÇ v ÉÏb;Ç ÒUGÇ èÃ åU)Ç XeÇ ÌUÅ åU Ç v t
UNOK ÕuBM*Ç WIdDU WÏÇdHÇ WOu *Ç ÒUèÃ åU XÒ rOOI rè .WFU Ç
åUJÃ Vu0 WOUHÇ çcN ÁUNÅ éÃ WU vè .WFU Ç ÉÏU*Ç s (Ì) ÉdIHÇ v
æUd Ç v pÐ l dL WOUHÇ çc æS ¬WUÇ ÉÏU*Ç s (È) ÉdIHÇ
pÐè WOUHÇ çc Vu0 WÏÇdHÇ UNOu 0 WU)Ç WONÇ ÊUOKLF W MU
ÉdIHÇ åUJÃ Vu0 äèUILK W MU cMO WOUHÇ çc ÁUCIÇ s rdÇ vK
.WUÇ ÉÏU*Ç s (È)
‫صورة إ‬
:ΔϳϣϧΗ ΩϘϋ ϰϟ· ϝϳϭΣΗϟ΍ (Ω)
WOLMÇ WD .bIè ÒUGK éÑU& áUAÇ èÃ XeK éÑU& áUAÇ éÃ VI (±)
5 âUHÇ r ¬WOUHÇ çc s vè_Ç ÉÏU*U ÏÑÇuÇ ndFK Uë I dNÇ WD è
‫لك‬
UNODGO
vÇ ÌUÇ vK ÉÑÏUIÇ WU *Ç WU âUD vK Uë F äèUI*Çè WONÇ
‫تروني‬
pK äu%è ¬æQAÇ Çc v äèdÇ dÒè WIÇu vK äuB(Ç åeK UL WOLM bI
èÃ éd Ã WOuU ÉÇÏÃ éÃ ÑÇbÅ vÅ WU(Ç æèÏ WOLM bI vÅ Uë OzUIK WU *Ç
‫ة ال يع‬
ÒUGK èÃ XeK ÁÇu

WOLMÇ bI ÊUuB .bI äèUI*Ç åeK r ÇÐÅè ¬`dB
aÑUÇ s WM
ä nAJÇ ÇcN ÕU)Ç WOLMÇ bI ÑÇb pÐè WONÇ vÅ
‫تد بها‬
æS ¬êÑUÇ áUAÇ Ïuè vK WUë Uë F äèUI*Çè WONÇ tO oÇu écÇ
æuJè ¬qUI æèÏ WOLMÇ bI åÇd WBB*Ç WU *Ç s ë ÒUM dF äèUI*Ç
WU *Ç çc s ZM*Ç äèdÇ q v ádBè ZMè vLM æÃ v o(Ç WONK
‫عند ا‬
¬éd Ã WOuU ÊÇÁÇdÅ WÃ ÐUÇ æèÏ W

UM UÇd vÇ WIdDU UNM äÒUM*Ç
ÙudÇ v o(Ç t æuJ æÃ æèÏè ¬ÌUU oKF o éÃ äèUILK æuJ æÃ æèÏè
‫ل‬
‫تداول‬
.ÊUèdB èÃ ÊUIH èÃ ÊUCuF éQ WONÇ vK

³· ²°²² WM
dÇ Ébd'Ç
Such one hundred percent (100%) payment shall not be recovered

by CONTRACTOR. Immediately following such payment the
specic area shall either (i) revert to the status of an ordinary
Development Lease under this Agreement and thereafter shall be
operated in accordance with the terms hereof; or (ii) alternatively,
in the event that at such time EGPC or its Afliated Company is
conducting Development operations in the area at its sole expense
and EGPC elects to continue operating, the area shall remain set
aside and CONTRACTOR shall only be entitled to its production
sharing percentages of the Crude Oil / Gas as specied in Article
VII (b). The sole risk Crude Oil/Gas shall be valued in the manner
provided in Article VII (c). In the event of any termination of this
Agreement under the provisions of Article III (b), this Agreement
shall, however, continue to apply to EGPC's operations of any
sole risk venture hereunder, although such Agreement shall have
been terminated with respect to CONTRACTOR pursuant to the
provisions of Article III (b).
(d) Conversion to a Development Lease:
(i) Following a Commercial Oil Discovery or a Commercial Gas
‫صورة إ‬
Discovery and after submitting a Development Plan and a
Decommissioning Plan according to the denition referred to in
Article I of this Agreement, the extent of the whole area capable
of production to be covered by a Development Lease shall be
mutually agreed upon by EGPC and CONTRACTOR and be ‫لك‬
‫تروني‬
subject to the approval of the Minister of Petroleum. Such area shall
be converted automatically into a Development Lease without the
issue of any additional legal instrument or permission. In case
‫ة ال يع‬
CONTRACTOR did not fulll its commitment to submit the
Oil / Gas Development Lease documentations to EGPC, in order
to issue the Development Lease related to that discovery, within
one (1) year from the date EGPC and CONTRACTOR agree in
‫تد بها‬
writing that a Commercial Discovery exists, CONTRACTOR

shall be considered assignor without charge for the area dedicated
for issuing such Development Lease. EGPC shall have the right
‫عند ا‬
to develop, produce and dispose all the Petroleum produced from

such assigned area in the manner it deems appropriate without
any further legal procedures, the CONTRACTOR shall have no
‫ل‬
right related to the production and has no right to have recourse

‫تداول‬
against EGPC for compensation or expenditures or costs.

²°²² WM
dÇ Ébd'Ç ³¸
èÃ) ÒUGK éÑU& áUAÇ ÓU

Ã vK WOLM bI vÅ WU WÃ qu% VI (²)
WONÇ äc (XeK éÑU& áUAÇ VI `M WOLM bI v ÒU áUAÇ bM
oKF ULOè ¬ZM*Ç ÒUGÇ ÈUFO
Ç vK ÉÑÏU WOU âÇu
Ã ÏU bN'Ç äèUI*Çè
WOK;Ç âÇu
ÒUGÇ Çc s UNUUOU äèUI*Ç WONÇ dD WOK;Ç âÇu
_U
ÖdG äèUI*Çè WONÇ lL& pÐ bFè ¬ÒUGÇ Çc VKD lu*Ç éuM Ç äèb'Çè
vb pc WDd*Ç éd _Ç qÇuFÇè ÒUGÇ ÇcN cUM*Ç XU ÇÐÅ U rOOI
ÓUÅ èÃ WONK rK ÍU*Ç ÒUGÇ Çc æS âUHÇ WU vè ¬ÒUGÇ ÌUÅè WOLM
.WFU Ç ÉÏU*U WMO*Ç ×èdAK Uë I è Uë Iè q_Ç qu ÒU lO bI vCI0
-:wK UL WOLM bI qJ WOLMÇ Éd æuJ (³)
WM
(²°) sdA WOLMÇ Éd æuJ XeK éÑUÇ áUAU oKF ULO (ÃÃ)
éÑUO Ç ÏÇbÇ vd UNOÅ Uë UC WOLMÇ bIF äèdÇ dÒè ÏULÇ aÑU s
‫صورة إ‬
WOLMÇ bI fH v ÒU áUAÇ WU v tÃ ×dAè (çUÏÃ 5 u UL)
VI pÐè WOUHÇ çc Vu0 dbBK èÃ Uë OK tÇb
Ç sJ1 èÃ åb è
‫لك‬
jI bL
WOLMÇ bI Éd æS ¬WOLM bI vÅ XeK éÑU& áUAÇ qu%
‫تروني‬
XeÇè ÒUGÇ pÐ s hK *Ç "LPG"äU *Ç äèdÇ ÒUè ÒUGÇ ÇcN W MU
‫ة ال يع‬
WM
(²°) sdA Éb* ÒUGÇ pÐ l ZM nJ qJ v u écÇ åU)Ç
vd UNOÅ Uë UC dbBK èÃ Uë OK ÒUGÇ s ÊUOLJ rOK äèÃ aÑU s
‫تد بها‬
Çc WOLMÇ bI qÃ be Ã ×dAè (çUÏÃ 5 u UL) éÑUO _Ç ÏÇbÇ
dÒè ÏULÇ aÑU s WM
(³°) 5 vKà XeK éÑU& áUAÇ vK f
R*Ç
‫عند ا‬
.XeÇ WOLM bIF äèdÇ

ë WONÇ äèUI*Ç dD
åbIU Uë UD æuJ s tMJè ÒUGK áUAÇ éÃ s ÇÑu
‫ل‬
‫تداول‬
.ÒUGÇ pÐ æQA bb WOLM bI VKD

³¹ ²°²² WM
dÇ Ébd'Ç
(ii) Following the conversion of an area to a Development Lease

based on a Commercial Gas Discovery (or upon the discovery
of Gas in a Development Lease granted following a Commercial
Oil Discovery), EGPC and CONTRACTOR shall endeavor with
diligence to nd adequate markets capable of absorbing the
production of Gas and with respect to the local markets, EGPC
shall advise CONTRACTOR of the potential outlets for such Gas
and the expected annual schedule of demand. Thereafter, EGPC
and CONTRACTOR shall meet with a view to assessing whether
the outlets for such Gas and other relevant factors warrant the
Development and production of the Gas and in case of agreement,
the Gas thus made available shall be disposed of to EGPC or
EGAS under a long-term Gas Sales Agreement in accordance
with and subject to the conditions set forth in Article VII.
(iii) The Development period of each Development Lease shall be as
follows:
(aa) In respect of a Commercial Oil Discovery, twenty (20) years
‫صورة إ‬
from the date of the Minister's of Petroleum approval of
the Development Lease plus Two (2) Optional Extension
Periods (as dened below) provided that, in the event that,
subsequent to the conversion of a Commercial Oil Discovery
‫لك‬
into a Development Lease, Gas is discovered in the same
‫تروني‬
Development Lease and is used or is capable of being used
locally or for export hereunder, the period of the Development
Lease shall be extended only with respect to such Gas,
‫ة ال يع‬
LPG extracted from such Gas, and Crude Oil in the form of
condensate produced with such Gas for twenty (20) years from
the date of the rst deliveries of Gas locally or for export plus
‫تد بها‬
the Two (2) Optional Extension Periods (as dened below)

provided that the duration of such Development Lease based
on a Commercial Oil Discovery may not be extended beyond
‫عند ا‬
thirty (30) years from the date of the Minister's of Petroleum

approval of the Oil Development Lease.
CONTRACTOR shall immediately notify EGPC of any
‫ل‬
‫تداول‬
Gas Discovery but shall not be required to apply for a new

Development Lease in respect of such Gas.
²°²² WM
dÇ Ébd'Ç ´°
s WM
(²°) sdA WOLMÇ Éd æuJ ÒUGK éÑU& áUAU oKF ULO (È È)
éÑUO Ç ÏÇbÇ vdH WU{U WOLMÇ bIF äèdÇ dÒè ÏULÇ aÑU
éÑU& áUAÇ qu% VIÃ ÇÐÅ U WU v tÃ WDd (çUÏÃ 5 u UL)
WB æS WOLMÇ bI fH v åU XÒ nAÇ æÃ WOLM bI vÅ ÒUGK
äèdÇ ÒU ÁUM
U) WOLMÇ bI s ZM*Ç åU)Ç XeÇ pÐ s äèUI*Ç
qJ v u écÇ åU)Ç XeÇ èÃ ÒUGÇ s hK *Ç "LPG" äU *Ç
ÏuF áu
åU)Ç XeÇ pc VUB*Ç ÒUGÇè (ÒUGÇ l WM ÊUHJ
XeÇ pÐ áUAÇ aÑU s WM
(²°) sdA ÁUCIÇ bM WONK WOK ë
.(çUÏÃ 5 u UL) éÑUO _Ç ÏÇbàÇ vd vÅ WU{U åU)Ç
be æÃ äU éQ Òu ¬WOUHÇ çc v pc Uë Ïd UL dEMÇ iG
WM
(³°) 5 vK ÒUGK éÑU& áUAÇ vK f
R*Ç WOLMÇ bI Éb
.WOLMÇ bIF äèdÇ dÒè ÏULÇ aÑU s
Uë UD æuJ s tMJè XeK áUAÇ éÃ s ÇÑuë WONÇ äèUI*Ç dD
‫صورة إ‬
.åU)Ç XeÇ ÇcN W MU bb WOLM bI VKD åbIU
(µ) fL ULNM q Éb æUd "êÑUO Ç ÏÇbÇ vd"dOF vMFè
.wÇuÇ vK ÊÇuM
‫لك‬
‫تروني‬
äèUI*Ç tK
d vU VK Vu0 vè_Ç ÏÇbÇ Éd ÑUO Ç äèUILK Òu
WM
(²°) sdAFÇ Éb ÁUCIÇ aÑU WIU
dNÃ (¶) W
q WONÇ vÅ
‫ة ال يع‬
ÌUÇ Éd rOOIè WOMHÇ ÊU
ÇÑbÇ WMLC WOLMÇ WD WLb WOMF*Ç
äèUI*Ç ÊUÇeÇè vè_Ç ÏÇbÇ Éd ä WFu*Ç ÌUÇ ÊbFè
.äèdÇ dÒèè WONÇ WIÇu0 Uë MÑ æuJè ¬WOMF*Ç WÏUBÇ ÊÇÑUÇè
‫تد بها‬
tK
d vU VK Vu0 vUÇ ÏÇbÇ Éd ÑUO Ç äèUILK Òu UL
ÏÇbÇ Éd ÁUCIÇ aÑU WIU
dNÃ (¶) W
q WONÇ vÅ äèUI*Ç
‫عند ا‬
WOMHÇ ÊU
ÇÑbÇ WMLC WOLMÇ WD WLb Uë CÃ æuJè ¬vè_Ç
vUÇ ÏÇbÇ Éd ä WFu*Ç ÌUÇ ÊbFè ÌUÇ Éd rOOIè
‫ل‬
WONÇ WIÇu0 Uë MÑ æuJè ¬WOMF*Ç WÏUBÇ ÊÇÑUÇè äèUI*Ç ÊUÇeÇè

‫تداول‬
.äèdÇ dÒèè
´± ²°²² WM
dÇ Ébd'Ç
(bb) In respect of a Commercial Gas Discovery, twenty (20)

years from the date of the Minister's of Petroleum approval
of the Development Lease plus Two (2) Optional Extension
Periods (as dened below) provided that, if subsequent to the
conversion of a Commercial Gas Discovery into a Development
Lease, Crude Oil is discovered in the same Development
Lease, CONTRACTOR's share of such Crude Oil from the
Development Lease (except LPG extracted from Gas or Crude
Oil in the form of condensate produced with Gas) and Gas
associated with such Crude Oil shall revert entirely to EGPC
upon the lapse of twenty (20) years from the discovery date of
such Crude Oil plus the Two (2) Optional Extension Periods
(as dened below).
Notwithstanding, anything to the contrary under this
Agreement, the duration of Development Lease based on a
Commercial Gas Discovery shall in no case exceed thirty (30)
years from the date of the Minister's of Petroleum approval of
the Development Lease.
CONTRACTOR shall immediately notify EGPC of any
Oil Discovery but shall not be required to apply for a new
‫صورة إ‬
Development Lease in respect of such Crude Oil.
The "Two (2) Optional Extension Periods" shall mean two
periods of ve (5) years each respectively.
‫لك‬
CONTRACTOR may elect to enter the rst extension period
‫تروني‬
upon six (6) months written request sent by CONTRACTOR to
EGPC prior to the expiry of the relevant twenty (20) year period
supplemented by a Development Plan including technical
studies, evaluation of production, expected levels of production
‫ة ال يع‬
during such rst Extension period, CONTRACTOR's
obligations and relevant economic consideration , and subject
to the approval of EGPC and the Minister of Petroleum.
‫تد بها‬
CONTRACTOR may also elect to enter the second

extension period upon six (6) months written request sent
by CONTRACTOR to EGPC prior to the expiry of the
rst extension period supplemented by a Development
‫عند ا‬
Plan including technical studies, evaluation of production,

expected levels of production during the second Extension
period, CONTRACTOR's obligations and relevant economic
‫ل‬
‫تداول‬
consideration, and subject to the approval of EGPC and the

Minister of Petroleum.
²°²² WM
dÇ Ébd'Ç ´²
¬XeK éÑU& áUAÇ VI ÍuML*Ç WOLMÇ bI Ñèb Ñu WOLMÇ ÊUOKL Ãb (à)
WOd*Ç WLOK Ç bÇuIK Uë Iè pÐ vu vÇ ÊUOKLFU WLzUIÇ WdAÇ WdF0 pÐè
b qI(Ç WOLM dF æÃ vÅ ¬WuI*Ç WOèdÇ W
bMNÇ bÇuè XeÇ äuI v
äèUI*Çè WONÇ æS VUB*Ç ÒUGÇ åb r U tÃ åuNH*Ç sè .qUJU X9
ÙB oI U0 ÌUÇ WUÅ VM WKO
è qCÃ æQA WO s æU{èUHO
WOLMÇ WD cOHM ÊUOKLFU WLzUIÇ WdAÇ ä s äèUI*Ç åeK r ÇÐÅè áÇd _Ç

aÑU s ÊÇuM
(´) lÑÃ ä WLEM WÑU& ÊUMA åU)Ç XeK ÌUÇ Ábè
WU sè WOLMÇ bI s qUI æèÏ ë ÒUM dF äèUI*Ç æS ¬WOLMÇ bI ÏULÇ
v ádBè ZMè vLM æÃ v o(Ç WONK æuJè ¬WU *Ç çcN tÇÒUOÇè tuI
æèÏ W
UM UÇd vÇ WIdDU UNM äÒUM*Ç WU *Ç çc s ZM*Ç åU)Ç XeÇ q
æèÏè .ÌUU oKF o éÃ äèUILK æuJ æÃ æèÏè éd Ã WOuU ÊÇÁÇdÅ WÃ ÐUÇ
.ÊUèdB èÃ ÊUIH èÃ ¬ÊUCuF éQ WONÇ vK ÙudÇ v o(Ç t æuJ æÃ
WD èÃ bIè WOLMÇ WD oè ÒUGK WÑU& ÊULOK oI r ÇÐÅ U WU vè
‫صورة إ‬
ÇÐÅ Å) WOLMÇ bI ÏULÇ aÑU s ÊÇuM
(´) lÑÃ ä sÑuc*Ç ÒUGÇ lO
WOLMÇ bI s qUI æèÏ ë ÒUM dF äèUI*Ç æS (pÐ á vK WONÇ XIÇè
ZMè vLM æÃ v o(Ç WONK æuJè ¬WU *Ç çcN tÇÒUOÇè tuI WU sè
‫لك‬
W
UM UÇd vÇ WIdDU UNM äÒUM*Ç WU *Ç çc s ZM*Ç ÒUGÇ q v ádBè
‫تروني‬
ÌUU oKF o éÃ äèUILK æuJ æÃ æèÏè éd Ã WOuU ÊÇÁÇdÅ WÃ ÐUÇ æèÏ
.ÊUèdB èÃ ÊUIH èÃ ÊUCuF éQ WONÇ vK ÙudÇ v o(Ç t æuJ æÃ æèÏè
‫ة ال يع‬
ÒUGK ÊULOK éÃ èÃ WLEM ÊUMA XeÇ s éÑU& ÌUÅ oI% åb WU vè
Áb aÑU s ÊÇuM
(´) lÑÃ ä v pÐè ¬WOLMÇ bI v WOLM ÙUD éÃ s
‫تد بها‬
bI ÊÇc dbBK èÃ Uë OK ÒUGK ÊULOK äèÃ aÑU s èÃ XeK éÑUÇ ÌUÇ
ë vKÇ V tS WOLMÇ
áUAÇ tO bu r U pÐè Çc WOLMÇ ÙUD s ÇÑu
áUAÇ tO bu èÃ ÒUGÇ vK f
R vK_Ç WOLMÇ bI æU ÇÐÅ XeK éÑU&
‫عند ا‬
bI v ÙUD qè .XeÇ vK f

R vK_Ç WOLMÇ bI æU ÇÐÅ ÒUGK éÑU&
éÑUÇ ÌUÇ v rU tÃ dFO
WM d éÃ V
äU v Uë Oze lI WOLM
‫ل‬
‫تداول‬
.(pÐ á vK WONÇ oÇu rU) tOUF tOÅ ÑUA*Ç

´³ ²°²² WM
dÇ Ébd'Ç
(e) Development operations shall upon the issuance of a Development

Lease granted following a Commercial Oil Discovery, be started
promptly by Operating Company and be conducted in accordance
with good oil eld practices and accepted Petroleum engineering
principles, until the eld is considered to be fully developed. It
being understood that if associated Gas is not utilized, EGPC and
CONTRACTOR shall negotiate in good faith on the best way to
avoid impairing the production in the interests of the parties. In case
CONTRACTOR, through the Operating Company, did not fulll
his obligations regarding the execution of the Development Plan and
did not start producing Crude Oil, in commercial regular shipments,
within four (4) years from the Development Lease approval date,
CONTRACTOR shall be considered assignor without charge for the
Development Lease and for all its rights, privileges related to such
area, EGPC shall have the right to develop, produce, and dispose all
Crude Oil produced from such assigned area by any means deems to be
appropriate without any further legal procedures, and CONTRACTOR
shall have no right related to the production and shall have no right
to have recourse against EGPC for any compensation, expenditures
or costs.
In the event no Commercial deliveries of Gas in accordance with
‫صورة إ‬
the mentioned Development Plan and Gas Sales Agreement/scheme
within four (4) years from the approval date of the Development
Lease (unless otherwise agreed by EGPC), CONTRACTOR shall be
considered assignor without charge for the Development Lease and for
‫لك‬
all its rights, privileges, related to such area, EGPC shall have the right
‫تروني‬
to develop, produce, and dispose all Gas produced from such assigned
area by any means deems to be appropriate without any further legal
procedures, and CONTRACTOR shall have no right related to the
‫ة ال يع‬
production and shall have no right to have recourse against EGPC for
any compensation, expenditures or costs.
In the event no Commercial Production of Oil in regular shipments or
Gas deliveries from any Development Block in the Development Lease
‫تد بها‬
within four (4) years from the date of commencement of Commercial

Production for Oil or from the date of rst deliveries of Gas locally
or for export in such Development Lease, such Development Block
shall immediately be relinquished, unless there is a Commercial Oil
‫عند ا‬
Discovery on the Development Lease based on Gas or a Commercial

Gas Discovery on the Development Lease based on Oil. Each Block in
a Development Lease being partly within the radius of drainage of any
‫ل‬
‫تداول‬
producing well shall be considered as participating in the Commercial

Production referred to above (unless otherwise agreed by EGPC).
²°²² WM
dÇ Ébd'Ç ´´
s XeÇ WOLM ÏuIF WOLMÇ ÊUUD WFÇd0 ÊÇuM

(´) lÑÃ q WONÇ åuI
s WLEM ÊULOK äèÃ aÑU s ÒUGÇ WOLM ÏuIèÃ/è éÑUÇ ÌUÇ Áb aÑU
ë vKK pÐè ¬dbBK èÃ Uë OK ÒUGÇ
ãÑUA dO èÃ ZM dO ÙUD éÃ s ÇÑu
.(pÐ á vK WONÇ oÇu r U) ÌUÇ v
(±) ÉbÇè WM
Éd ä ÌUÇ ÉÏUÅ Ãb rè ¬d éÃ s ÌUÇ nu WU v
vKÇ ÖdG WOLMÇ bI ÊUUD WFÇd r ¬nuÇ Çc aÑU s vBÃ b
Å) dÇ pÐ s ÌUÇ v ãÑUA vÇ èÃ WM dOGÇ WOLMÇ ÊUUD s
.(ÉdHÇ pK b vK WONÇ XIÇè ÇÐÅ
ÊUUDIÇ v UÄÇdÇ - vÇ ÊU
ÇÑbÇè ÊUuKF*Çè ÊUUOÇ WU rOK äèUI*Ç åeK
v "EUG" ÌUÇè áUAJ
dB WÇu vÅ WIDM*Ç q ÇÏ UNM vKÇ - vÇ
.wKÇ vK WONÇ WIÇu aÑU s Uë u (³°) 5 ÒèU bu
u UL dbBK ÁÇu
ÒUGÇ v ádBK WD v ÁbÇ èÃ ÒUGÇ lO bI lOu bM
‫صورة إ‬
åU)Ç XeÇè ÒUGU WU)Ç WOLMÇ ÊUOKL æS t èÃ WFU Ç ÉÏU*U tOÅ ÑUA
ÒUGÇ Çc l ZM écÇ "LPG" äU *Ç äèdÇ ÒU èÃ ÊUHJ qJ v u écÇ
‫لك‬
vu vÇè ÊUOKLFU WLzUIÇ WdAÇ WD
Çu ÉdU Ãb áu
tM hK èÃ
‫تروني‬
WuI*Ç WOèdÇ W
bMNÇ bÇuè ÒUGÇ äuI v WOd*Ç WLOK Ç bÇuIK Uë Iè pÐ
ÌUÅ oI r ÇÐÅ U WU vè .sÑuc*Ç ÒUGÇ lO WD èÃ bI åUJÃ pcè
‫ة ال يع‬
ÒUGÇ ÇcN oKF*Ç WOLMÇ bI æS sÑuc*Ç ÒUGÇ lO WD èÃ bI oè ÒUGK éÑU&
.(pÐ á vK WONÇ oÇu r U) tM vK áu
‫تد بها‬
t
éd ÒUGÇ èÃ åU)Ç XeÇ æQ ¬äèUI*Ç t åbI VK vK ÁUM ¬WONÇ ÊdÃ ÇÐÅ
v WOLM ÊUUD/ÙUD vÅ WOUHÇ çc ÊUUD s Y ÊUUD /ÙUD s
‫عند ا‬
éd écÇ ÊUUD/ÙUDIÇ æS d Â äèUI èÃ äèUILK WFU ÉÑèU åÇeÇ WIDM
WOLMÇ ÊUUD / ÙUDI éÑUÇ ÌUÇ v rU tÃ dF æÃ V tM V Ç
‫ل‬
‫تداول‬
s pÐ l U l WOLM bI vÅ tM V Ç éd écÇ ÙUDIÇ äuè ¬wMF*Ç
´µ ²°²² WM
dÇ Ébd'Ç
Every four (4) years EGPC shall review the Development Blocks of Oil
Development Leases from the date of commencement of Commercial
Production and/or Gas from the date of the rst regular Gas deliveries
locally or for export, for immediate relinquish for any non-producing
block or any block that does not participate in production (unless
otherwise agreed by EGPC).
In case the production has stopped from any well, and the reproduction
hasn’t started within a period of maximum one (1) year from the date
of such stop, a revision for the Development Lease blocks will take
place in order to relinquish the Development Blocks not producing or
not contributing to production from such well (unless EGPC agrees to
extend such period).
CONTRACTOR shall submit to EUG all data, information and
studies that have been made for any relinquished blocks within the
Area, no later than thirty (30) days from EGPC's approval date of any
relinquishment.
‫صورة إ‬
Development operations in respect of Gas and Crude Oil in the form
of condensate or LPG to be produced with or extracted from such Gas
shall, upon the signature of a Gas Sales Agreement or commencement
of a scheme to dispose of the Gas, whether for export as referred to in
‫لك‬
Article VII or otherwise, be started promptly by Operating Company
‫تروني‬
and be conducted in accordance with good Gas eld practices and
accepted Petroleum engineering principles and the provisions of
‫ة ال يع‬
such Gas Sales Agreement or scheme. In the event no Commercial
Production of Gas is established in accordance with such Gas Sales
Agreement or scheme, the Development Lease relating to such Gas
shall be relinquished, (unless otherwise agreed upon by EGPC).
‫تد بها‬
If, upon application by CONTRACTOR it is recognized by EGPC

that Crude Oil or Gas is being drained from the Exploration Block/
Blocks under this Agreement into a Development Block/ Blocks
‫عند ا‬
on an adjoining concession area held by CONTRACTOR/ another

contractor, the Block/ Blocks being drained shall be considered as
‫ل‬
participating in the Commercial Production of the Development Block/

‫تداول‬
Blocks in question and the Block being drained shall be converted

²°²² WM
dÇ Ébd'Ç ´¶
¬V Ç Çc Ëèb aÑU èÃ æUd Ç aÑU s Uë u ) ÌUÇè nOUJK lÒu
nOUJÇ lÒu æuJè .åÇeÇ vIDM 5 pÐè ¬(Uë I æuJ 5ÑUÇ éÃ
ÊUO UOÇ UNK9 vÇ W MÇ fHM åÇeÇ WOUHÇ qJ Uë I sÑuc*Ç ÌUÇè
X% tM V Ç r écÇ vuuO'Ç VOdÇ v UNOK äuB(Ç sJ1 vÇ ÉÏd *Ç
Çc s UNOK äuB(Ç sJ1 vÇ ÉÏd *Ç ÊUO UOÇ ÙuL vÅ åÇeÇ WIDM q
WIDM é_ hB*Ç ÌUÇ dOF rè ¬åÇeÇ vIDM X% szUJÇ VOdÇ
.çc åÇeÇ WIDM rJ% vÇ åÇeÇ WOUH Uë Iè åÇeÇ
vK ÉÑèU åÇeÇ WIDM v äèUI l WOUHÇ çc v äèUI*Ç âUH Å WU v
vIDM s ë v WKI *Ç WOLMÇ ÏuI vK ÌUÇ èÃ/è nOUJÇ lÒu
lC æÃ WONÇ vK ¬WONÇ ÑÇdÅ aÑU s dNÃ (¶) W
Éd ÁUNÇ q ¬åÇeÇ
.áÇd _Ç WUJ WeK æuJè ÖdGÇ ÇcN WII UÇd vÇ bÇuIÇ
ÊUOKLFÇ WUJ åUOIÇ UNKD vÇ ÊUèdB*Çè nOUJÇ WU lbè äèUI*Ç qL (è)
‫صورة إ‬
vK bzÇu WÃ qLA ÊUèdB*Çè nOUJÇ çc æÃ dO WOUHÇ çc Vu0
vK ÊUèdB*Çè nOUJÇ çc ÏÇÏd
äèUI*Ç tOÅ lKD U dBIè ¬ÑUL
Ç
‫لك‬
ÊUèdB*Çè nOUJÇ çc Ïd è .WOUHÇ çc q v äèd s jI tI U
‫تروني‬
WOUHÇ çc æUd
Éb ÁUMÃ vè .WFU Ç ÉÏU*Ç v tOK ÕuBM*Ç uMÇ vK
5 r I ÊUOKLFÇ çc ÉdU s tIOI% r écÇ ÌUÇ vULÅ æS ¬Ubb&è
‫ة ال يع‬
.WFU Ç ÉÏU*Ç ÕuBM Uë Iè äèUI*Çè WONÇ

5ÇuIÇ çc ÊUOCI0 åeK UL WdB*Ç q bÇ Wd{ 5ÇuI äèUI*Ç lC -± (Ò)
‫تد بها‬
dUbÇ .bIè p è WdCÇ jÑè WOdCÇ ÊÇÑÇdÇ .bI h ULO

.pÐ á vK WOUHÇ hM r U Çc .Ê Çè
‫عند ا‬
ÊUDK Ç o s æuJè WOdCÇ ÊÇÑÇdÇ ÏÇbÅ s ë u äèUI*Ç æuJ -²

WONÇ vÅ WOdCÇ ÊÇÑÇdÇ åbI æÃ äèUI*Ç vKè .UNFÇd Ubè WOdCÇ
‫ل‬
‫تداول‬
.tO WOdCÇ ÊÇÑÇdÇ .bI VÇuÇ aÑUÇ s Uë u (²µ) sdAè W L q
´· ²°²² WM
dÇ Ébd'Ç
into a Development Lease with the ensuing allocation of costs and

production (calculated from the Effective Date or the date such
drainage occurs, whichever is later) between the two Concession Areas.
The allocation of such costs and production under each Concession
Agreement shall be in the same portion that the recoverable reserves
in the drained geological structure underlying each Concession Area
bears to the total recoverable reserves of such structure underlying
both Concession Areas. The production allocated to a concession area
shall be priced according to the concession agreement covering that
concession area.
In case of failure by the CONTRACTOR in this Agreement and the
contractor in adjoining concession area to agree on the allocation of
costs and/or production for such separate Development Leases under
each concession area, before the end of a six (6) month period from
the date of EGPC's written statement, EGPC shall set the rules and
principles it deems appropriate, which rules and principles shall be
binding on all relevant parties.
(f) CONTRACTOR shall bear and pay all the costs and expenses required
‫صورة إ‬
in carrying out all the operations under this Agreement but such
costs and expenses shall not include any interest on investment.
CONTRACTOR shall look only to the Petroleum to which it is entitled
‫لك‬
under this Agreement to recover such costs and expenses. Such costs
‫تروني‬
and expenses shall be recoverable as provided in Article VII. During
the term of this Agreement and its renewal, the total production
achieved in the conduct of such operations shall be divided between
‫ة ال يع‬
EGPC and CONTRACTOR in accordance with the provisions of
Article VII.
(g) (1) Unless otherwise provided, CONTRACTOR shall be subject to
‫تد بها‬
Egyptian income tax laws and shall comply with the requirements
of such laws with respect to the ling of returns, the assessment of
tax, and keeping and showing of books and records.
‫عند ا‬
(2) CONTRACTOR shall be liable to prepare the tax return, that

only the tax authority shall be entitled to audit. CONTRACTOR
shall submit the tax return to EGPC twenty ve (25) days prior
‫ل‬
‫تداول‬
to the due date of submitting thereof to the tax authority. EGPC

shall have the right to review the tax return in order to accept the
²°²² WM
dÇ Ébd'Ç ´¸
WONKè .Wu ;Ç WdCÇ ÏÇb

äuI WOdCÇ ÊÇÑÇdÇ WFÇd v o(Ç WONKè
s Uë u (±µ) dA W L ä ÊÇÑÇdÇ çc vK UNUE ÁÇbÅ v o(Ç
äèUI*Ç æuJ äU éÃ vKè .äèUI*Ç s WOdCÇ ÊÇÑÇdÇ çc å
Ç aÑU
.âUI
Ç aÑU v WOdCÇ ÊUDK K WOdCÇ ÊÇÑÇdÇ .bI s ë u
çc vCI0 WdB*Ç q bÇ Wd{ ÖÇd_ äèUILK éuM Ç q bÇ æuJè -³
:wUÇ uMÇ vK V Uë GK ¬WOUHÇ
v éd Ã WIdD ádBÇ èÃ lOÇ s äèUI*Ç UU{UI vÇ mU*Ç ÙuL
ÉÏU*Ç s (È) è (Ã) 5dIHÇ åUJ_ Uë Iè äèUI*Ç tOK qB écÇ äèdÇ q
.WFU Ç
:ΎϬϧϣ ˱ ΎϣϭλΧϣ
.äèUI*Ç UNIHÃ vÇ ÊUèdB*Çè nOUJÇ – ±
‫صورة إ‬
äèdÇ izU v WFU Ç ÉÏU*Ç s (Ì) ÉdIHK Uë Iè Ïb% UL ¬WONÇ WB WLOè – ²
ë WONK UNFÏ ÏUF*Çè nOUJÇ ÏÇÏd
hB*Ç
¬bè æÅ ¬Uë MOèÃ ÇbI
‫لك‬
‫تروني‬
:˱΍Ω΋΍ί
v WMO*Ç WIdDU ë L äèUI*Ç vK WI *Ç WdB*Ç q bÇ VzÇdC Uë èU Uë GK
‫ة ال يع‬
."à" oK*Ç s W
ÏU Ç ÉÏU*Ç
(Ã) ÉdIHÇ éd ¬WOd{ WM
WÃ v dcÇ WHU
WOdCÇ ÊUUDI
Ç ÖÇd_è
‫تد بها‬
¬jI ãN
Ç ÊbFè ÊUèdB*Çè nOUJÇ nOMB W MU WFU Ç ÉÏU*Ç s
.(±) (Ã) bM WFU Ç ÉÏU*Ç s vè_Ç ÉdIHÇ v ÉÏb;Ç Wu*Ç W MU ÏÇbÇ æèÏ
‫عند ا‬
WOUHÇ çc vCI0 ÊUOKLFÇ ÉdU0 WIKF*Ç äèUI*Ç ÊUèdBè nOUJ lOLè
æuJ WOUF `{u*Ç uMÇ vK WFU Ç ÉÏU*Ç s (Ã) ÉdIHÇ h UNLJ vÇè
‫ل‬
‫تداول‬
.WdB*Ç q bÇ Wd{ æuU åUJ_ Uë Iè rBK WKU

´¹ ²°²² WM
dÇ Ébd'Ç
tax calculation therein. EGPC shall provide comments on such

return within fteen (15) days of the date of receiving the tax
return from CONTRACTOR. In any case CONTRACTOR shall
be responsible for submitting the tax return to the tax authority
within the due date.
(3) CONTRACTORs' annual income for Egyptian income tax purposes
under this Agreement shall be an amount calculated as follows:
The total of the sums received by CONTRACTOR from the sale
or other disposition of all Petroleum acquired by CONTRACTOR
pursuant to Article VII (a) and (b);
Reduced by:
(i) The costs and expenses of CONTRACTOR;
(ii) The value as determined according to Article VII (c), of EGPCs'
‫صورة إ‬
share of the Excess Cost Recovery Petroleum repaid to EGPC in
cash or in kind, if any,
Plus: ‫لك‬
‫تروني‬
An amount equal to CONTRACTORs' Egyptian income taxes grossed
up in the manner shown in Article VI of Annex "E".
‫ة ال يع‬
For purposes of above tax deductions in any Tax Year, Article VII
(a) shall apply only in respect of classication of costs and expenses
‫تد بها‬
and rates of amortization, without regard to the percentage limitation

referred to in the rst paragraph of Article VII (a) (1). All costs and
‫عند ا‬
expenses of CONTRACTOR in conducting the operations under

this Agreement which are not controlled by Article VII (a) as above
‫ل‬
qualied shall be deductible in accordance with the provisions of the

‫تداول‬
Egyptian Income Tax Law.

²°²² WM
dÇ Ébd'Ç µ°
WdB*Ç q bÇ Wd{ ¬tM WUOè äèUI*Ç r

S Ïb è lbè WONÇ qL – ´
dOè t kH;Çè ZM*Ç äèdÇ s WONÇ WB s pÐè äèUI*Ç vK WI *Ç
UNFb vÇ VzÇdCÇ lOLè .WFU Ç ÉÏU*Ç vCI0 ÊUOKLFÇ v qLF *Ç
.äèUILK W MU ë Ï dF tM WUOè äèUI*Ç r
S WONÇ
åU Ç ÒU v tB s Áe èÃ q v çÏdH0 ádBU ¬äèUI*Ç åUO WU v
WIÇu vK äuB(Ç bF ¬WOK;Ç âu K ¬bè æÅ ¬ÏÇÏd
Ç izU ÒUè ÌUÇ
Uë èU Uë GK WONK Ïb è lbè qL æÃ äèUI*Ç vK V tS ¬äèdÇ dÒè
ÏÇb
dF è ÒUGÇ pÐ WLOI oKF ULO tOK WI *Ç WdB*Ç q bÇ WdC
.ÏÇÏd
qU âUHÅ dF UL ¬t W MU ë Ï VzÇdCÇ çcN äèUI*Ç
Wd{ lÏ X vÇ WOBÇ WOL
dÇ ÊUBÇ äèUI*Ç rOK WONÇ åuI – µ
Uë u (¹°) 5F ä v WOd{ WM
q s äèUI*U WU)Ç WdB*Ç q bÇ
Vè .WIU Ç WOdCÇ WM Ç s äèUILK vdCÇ ÑÇd WONÇ å
Ç VI
‫صورة إ‬
mK*Ç UN Uë MOè WB*Ç WOdCÇ ÊUDK Ç s ÉÑÏU ÊUBÇ çc æuJ æÃ
.ÊUBÇ çc q v ÉÏU Ïd vÇ ÊUUOÇ s çdOè Ùub*Ç
‫لك‬
VzÇd{ WUJ WKU æuJ ¬WOUHÇ çc v oD UL ¬WdB*Ç q bÇ Wd{ – ¶
‫تروني‬
q (WdCÇ vK WdCÇ pÐ v U0) .Ù.å.Ì v UÄÇÏÃ o vÇ q bÇ
WÑUÇ ÍUÑ_Ç vK WdCÇè WuIM*Ç äÇu_Ç ÓèÄÑ s q bÇ vK WdCÇ
‫ة ال يع‬
U0 ¬UN U
U
Ã ÍUÑ_Ç èÃ q bÇ c vÇ VzÇdCÇ pc WKUè ¬WOUMBÇè
U æQA lM*Ç bM VzÇd{ s e Uè ¬rN
_Ç ÍUÑÃ ÊUFÒu lOL pÐ v
‫تد بها‬
U vK .Ù.å.Ì WuJ s W{èdH*Ç VzÇdCÇ s pÐ dOè ¬5LU LK o
.ÍUÑÃ èÃ q Ï s tFÒu äèUI*Ç åuI
‫عند ا‬
æÃ UN o .Ù.å.Ì v UNOK W{èdH*Ç q bÇ VzÇd{ ÈU WONÇ åUO bM – ·
WdB*Ç q bÇ VzÇd{è WuJ(Ç vÅ WONÇ UNFÏ vÇ ÊÇèUÇ lOL rB
‫ل‬
‫تداول‬
ë WONÇ UNFÏ vÇ äèUI*Ç vK

.äèUI*Ç s WUO
µ± ²°²² WM
dÇ Ébd'Ç
(4) EGPC shall assume, pay and discharge, in the name and on behalf
of CONTRACTOR, CONTRACTOR's Egyptian income tax out
of EGPC's share of the Petroleum produced and saved and not
used in operations under Article VII. All taxes paid by EGPC in
the name and on behalf of CONTRACTOR shall be considered
income to CONTRACTOR.
In case CONTRACTOR dispose all or part of its share of
Production Sharing Gas and Excess Cost Recovery Gas, if any, by
itself to local market, after obtaining the Minister of Petroleum's
approval, CONTRACTOR shall bear and pay to EGPC an amount
equal to the CONTRACTOR's Egyptian income tax in respect of
the value of such Gas, the payment of such tax by CONTRACTOR
shall neither be considered as income nor as recoverable cost to
CONTRACTOR.
(5) EGPC shall furnish to CONTRACTOR the proper ofcial receipts
evidencing the payment of CONTRACTOR's Egyptian income
‫صورة إ‬
tax for each Tax Year within ninety (90) days following the
receipt by EGPC of CONTRACTOR’s tax declaration for the
preceding Tax Year. Such receipts shall be issued by the proper
‫لك‬
Tax Authorities and shall state the amount and other particulars
‫تروني‬
customary for such receipts.
(6) As used herein, Egyptian Income Tax shall be inclusive of all
income taxes payable in the A.R.E. (including tax on tax) such
‫ة ال يع‬
as the tax on income from movable capital and the tax on prots
from commerce and industry and inclusive of taxes based on
income or prots including all dividends, withholding with
‫تد بها‬
respect to shareholders and other taxes imposed by

the GOVERNMENT of A.R.E. on the distribution of income or
prots by CONTRACTOR.
‫عند ا‬
(7) In calculating its A.R.E. income taxes, EGPC shall be entitled

to deduct all royalties paid by EGPC to the GOVERNMENT
‫ل‬
‫تداول‬
and CONTRACTOR's Egyptian income taxes paid by EGPC on

CONTRACTOR's behalf.
²°²² WM
dÇ Ébd'Ç µ²
WF«d« …œU*«
ΙΣΑϟ΍ ΓέΗϓ ˯ΎϧΛ΃ ΕΎϘϔϧϟ΍ϭ ϝϣόϟ΍ ΞϣΎϧέΑ
ÒèU bu v WOUHÇ çc vCI0 YÇ ÊUOKL Ãb æÃ äèUI*Ç vK V (Ã)
lOL vK äuB(Çè åÇb
Ç äèUILK oè .æUd Ç aÑU s dNÃ (¶) W
¬WIDM*U WU)Ç ÊUUOÇ s UdOè ÑUU WU)Ç ÊUUOÇ Çcè WOeO Ç ÊUUOÇ
WLEM*Ç `zÇuK Uë I pÐè ¬(EUG) ÌUÇè áUAJ
dB WÇu éb WU*Çè
.æQAÇ ÇcN
ÉdH çc YÇ Éd b äèUILK Òu .ÊÇuM
(³) Ë WOè_Ç YÇ Éd Ébàà (È)
WUÇ ÉÏULK Uë Iè vÇuÇ vK ÊÇuM
(³) Ë UNb WI (±) ÉbÇè ÏÇbÇ
tK
d q_Ç vK Uë u (³°) 5 o vU ÑUD Å vK ÁUM pÐè ¬(È) ÉdI
tzUèè YÇ ÊUOKL v tUÇeÇ s vÏ_Ç b(Ç äèUI*Ç âUHÅ ×dA WONÇ vÅ
.WOU(Ç YÇ Éd s WOUHÇ çc vCI0 WOMHÇ ÊUÇeU
‫صورة إ‬
s ÑèÏ (´[°°°[°°°) 5 WFÑÃ s qI U oHM æQ äèUI*Ç åeKè
l UN WIKF*Ç WDA_Çè YÇ ÊUOKL vK WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ
‫لك‬
UL ¬ÊÇuM
(³) Ë UNbè WOè_Ç YÇ Éd ä (²) sd dàH åÇeÇ
‫تروني‬
sàààà ÑèÏ (³[°°°[°°°) 5 W sàà qI U oHM æQ äèUI*Ç åeK
‫ة ال يع‬
ÊÇuM
(³) Ë UààNbè ÏÇbÇ Éd äàà WOJd_Ç Ébàà*Ç ÊUuÇ ÊÇÑèÏ
ÑU vÇ ÏÇbÇ Éd ä .WààOè_Ç YÇ Éd bF Ub äèUI*Ç ÑU vÇ
ë dàH äèUI*Ç åeK WOè_Ç YÇ Éd bF Ub äèUI*Ç
.(±) ÉbÇè Çd
‫تد بها‬
dH ÇÐÅ èÃ tUHÅ åeK écÇ mKLK vÏ_Ç b(Ç s dÃ äèUI*Ç oHÃ ÇÐÅ U WU vè
Ë WGUÇ WOè_Ç YÇ Éd ä çdH åeK écÇ ÑUÇ ÏbF vÏ_Ç b(Ç s dÃ
‫عند ا‬
ÑÇbI* vÏ_Ç b(Ç s rB æÃ sJ1 ÉÏUeÇ æS ¬pÐ bF Éd éÃ èÃ ÊÇuM
(³)
‫ل‬
éÃ ä UdH åeK vÇ ÑUÇ ÏbF vÏ_Ç b(Ç èÃ tUHS äèUI*Ç åeK écÇ mK*Ç
‫تداول‬
.äÇu_Ç V ¬WOU Y Éd

µ³ ²°²² WM
dÇ Ébd'Ç
ARTICLE IV
WORK PROGRAM AND EXPENDITURES
DURING EXPLORATION PERIOD
(a) CONTRACTOR shall commence Exploration operations hereunder
not later than six (6) months from the Effective Date. CONTRACTOR
shall have the right to use and obtain all seismic, wells and other data
with respect to the Area in EUG's possession and in accordance with
the regulations in such respect.
(b) The initial Exploration period shall be three (3) years. CONTRACTOR
may extend this Exploration period for one (1) successive extension
period of three (3) years respectively, in accordance with Article III
(b), upon at least thirty (30) days prior written notice to EGPC, subject
to its expenditure of its minimum Exploration obligations and of its
fulllment of the technical obligations hereunder, for the then current
Exploration period.
‫صورة إ‬
CONTRACTOR shall spend a minimum of four million U.S. Dollars
($4,000,000) on Exploration operations and activities related thereto
during the initial three (3) year Exploration period; provided that
‫لك‬
CONTRACTOR shall drill two (2) wells. For the three (3) year
‫تروني‬
extension period that CONTRACTOR elects to extend beyond the
initial Exploration period, CONTRACTOR shall spend a minimum of
‫ة ال يع‬
three million U.S. Dollars ($3,000,000). During the extension period
that CONTRACTOR elects to extend beyond the initial Exploration
period, CONTRACTOR shall drill one (1) well.
‫تد بها‬
Should CONTRACTOR spend more than the minimum amount

required to be expended or drill more wells than the minimum
required to be drilled during the initial three (3) year Exploration
‫عند ا‬
period, or during any period thereafter the excess may be subtracted

from the minimum amount of money required to be expended by
‫ل‬
CONTRACTOR or minimum number of wells required to be drilled

‫تداول‬
during any succeeding Exploration period, as the case may be.

²°²² WM
dÇ Ébd'Ç µ´
¬cMO
í WÑU'Ç YÇ ÉdH WOMHÇ tUÇeÇ s éQ ÁUuÇ v äèUI*Ç âUH Å WU v
WIÇu*Ç v o(Ç WONK æuJ ¬ÉdHÇ çcN WOU*Ç tUÇeÇ s vÏÇ b(U ÁUuÇ l
vu dOGÇ vMHÇ åÇeÇ qOd ×dA ¬WOUÇ ÉdHÇ äu Ï äèUI*Ç VK vK
åÇeÇ Çc WLOI qBHM æUL{ ÈUD .bI äèUI*Ç åeKè ¬WOUÇ ÉdHÇ vÅ
r .WOMF*Ç YÇ Éd WUN v äuFH*Ç éÑU
ÈUD)Ç ÇcdL ¬qd*Ç vMHÇ
.tMLC écÇ åÇeU oKF Çc æULCÇ ÈUD s éd Ã ÊUIH éÃ iOH
qOO WONK o .qd*Ç åÇeÇ cOHM bF Å Çc æULCÇ ÈUD ÏÇÏd
Ç r
WUN s Uë u (¶°) 5
q ¬qd*Ç åÇeÇ cOHM åb WU v æULCÇ ÈUD
.WOUÇ YÇ Éd
5*Ç uMÇ vK WOUHÇ çc vCI0 YÇ v tuI s äèUI*Ç vK WU vè
oHÃ b æuJè WOè_Ç YÇ Éd s (³) WUÇ WM Ç WUN bM èÃ q tOUF
‫صورة إ‬
(´[°°°[°°°) 5 WFÑ_Ç mK ÙuL s qI Uë GK YÇ ÊUOKL vK
äèUI*Ç æU ÇÐÅ U WU v èÃ ¬WààààOJd_Ç Ébàà*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ
tS ¬mK*Ç Çc s qI Uë GK WIDM*Ç v oHÃ b (³) WUÇ WM Ç WUN bM
‫لك‬
‫تروني‬
5 WFÑ_Ç mK 5 âdHK Uë èU Uë GK WONK lbàà æÃ äèUI*Ç vK 5F
5è dcÇ WHU
WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (´[°°°[°°°)
‫ة ال يع‬
v èÃ vKÇ bM WONK mK*Ç Çc làÏ æuJè ¬YÇ vK ë F tIHÃ écÇ mK*Ç
V ¬WOè_Ç YÇ Éd s (³) WUÇ WM Ç WUN s dNÃ (¶) W
éb
‫تد بها‬
ÈU
ÏÇbÇ éÃ Éd WUN bM äèUI*Ç UNIHM vÇ ÊUIHMÇ v e éÃè .äÇu_Ç
dOeFÇ Çc dFè .eFÇ pÐ WONK äèUI*Ç lb æÃ vÅ q*U éÏR dcÇ WHU
‫عند ا‬
äèUI*Ç æS ¬äèUILK W MU äuFH*Ç WÑU

WOUHÇ çc XK U*U è ¬ÏÇÏd
qU
ÉÏU*Ç v UNOK ÕuBM*Ç WIdDU Y ÊUIHM mU*Ç pK s Uë Ã Ïd æÃ t o
‫ل‬
‫تداول‬
.êÑUÇ ÌUÇ WU v WFU Ç

µµ ²°²² WM
dÇ Ébd'Ç
In the event the CONTRACTOR fail to fulll any of its technical

obligations of the then current Exploration period subject to its
fullment of the minimum nancial obligations for such period,
EGPC may approve CONTRACTOR's request to enter the succeeding
Exploration period, provided that the unfullled technical obligations
would be carried forward to the succeeding period and CONTRACTOR
shall submit a separate Letter of Guaranty with the value of the carried
forward technical obligations, such Letter of Guaranty shall be valid
till the end of the concerned succeeding Exploration period. Such
Letter of Guranty cannot be reduced by any other expenses that do not
relate to the obligations it guarantees.
Such Letter of Guaranty shall not be returned except after the execution
of the carried forward obligation. EGPC shall have the right to
liquidate the Letter of Guaranty in case the carried forward obligation
is not executed, sixty (60) days prior to the end of the succeeding
Exploration period.
‫صورة إ‬
In case CONTRACTOR surrenders its Exploration rights under this
Agreement as set forth above before or at the end of the third (3rd) year
of the initial Exploration period, having expended less than the total
‫لك‬
sum of four million U.S. Dollars ($4,000,000) on Exploration or in the
‫تروني‬
event at the end of the third (3rd) year, CONTRACTOR has expended
less than said sum in the Area, an amount equal to the difference
between the said four million U.S. Dollars ($4,000,000) and the amount
‫ة ال يع‬
actually spent on Exploration shall be paid by CONTRACTOR to
EGPC at the time of surrendering or within six (6) months from the
end of the third (3rd) year of the initial Exploration period, as the case
‫تد بها‬
may be. Any expenditure deciency by CONTRACTOR at the end of

any Extension period for the reasons above noted shall similarly result
in a payment by CONTRACTOR to EGPC of such deciency, such
‫عند ا‬
deciency shall be unrecoverable. Provided this Agreement is still

in force as to CONTRACTOR, CONTRACTOR shall be entitled to
‫ل‬
recover any such payments as Exploration Expenditure in the manner

‫تداول‬
provided for under Article VII in the event of Commercial Production.

²°²² WM
dÇ Ébd'Ç µ¶
èÃ XeK éÑU& áUAÇ oI% åb WU v tS ¬(È) WUÇ ÉÏU*U ä Ç åb l
Ub r UL (¶) W
ÏU Ç WM Ç WUN v ÒUGK éÑU& áUAU ÑUD Ç åb
WOUHÇ çc Vu0 WIDM*Ç s äèUI*Ç vK WU v èÃ (Ã) W U)Ç ÉÏULK Uë Iè
äèUI*Ç æuJ vÇ dcÇ WHU
ÊUèdB*Ç s Uë Ã WONÇ qL ¬aÑUÇ pÐ q
.UNIHÃ b
bOÇu*Ç v èÃ q_Ç vK dNÃ (´) WFÑQ WOU WM
q WÇb q ¬äèUI*Ç åuI ( Ì)
WÒÇuè qL ZUd ÏÇbS ¬äèUI*Ç è WONÇ 5 UNOK âUHÇ r vÇ éd _Ç
UN åUOIÇ äèUI*Ç ÍdI vÇ YÇ ÊUOKL ULNO 5 WIDM*Ç v YÇ äUL_
.WOUÇ WM Ç ä
ZUd WOUHÇ çc æUàd
aÑU bààF äèUI*Çè WONÇ UNAM WdA WM' hHè
ULO UNOK oKD vÇ WMKÇ çc æuJè .YÇ äULQ WU)Ç WÒÇu*Çè qLFÇ
WONÇ rNMOF rNM (³) W ¬ÁUCÃ (¶) W
s "WÑUA
Ç YÇ WM'" vK
‫صورة إ‬
5 s WÑUA
Ç YÇ WM' fOzÑ WONÇ 5Fè .äèUI*Ç rNMOF (³) Wè
WÒÇu*Çè qLFÇ ZUd hH WÑUA
Ç YÇ WM' åuIè .rNMO scÇ ÁUC_Ç
‫لك‬
WdF0 hHÇ s ÁUNÇ bFè ¬ULNQA Uë
UM çÇd écÇ éÃdÇ åbIè 5dI*Ç
‫تروني‬
W
UM äèUI*Ç UÇd vÇ ÊbFÇ pK ÁÇdS äèUI*Ç åuI ¬WÑUA
Ç YÇ WM'
.ULÏUL YU 5U)Ç WÒÇu*Çè qLFÇ ZUd WONK åbIè
‫ة ال يع‬
:ΩΎϣΗϋϻ΍ ΍Ϋϫ ΩόΑ Ϫϧ΃ ˱ Ύοϳ΃ ϪϳϠϋ ϕϔΗϣϟ΍ ϥϣ ϭ

sÑuc*Ç WÒÇu*Çè qLFÇ ZUd Wdu ÉÑuB äbF èÃ dOG æÃ äèUILK Òu -±
‫تد بها‬
¬WONÇ WIÇu æèb WÒÇu*Ç v ÉbLF*Ç ÊUIHMÇ iH æÃ è

tS ÊUJKL*Ç èÃ ÍÇèÑ_Ç æÇbI dD vK éuDM vÇ WzÑUDÇ áèdEÇ WU vè -²
‫عند ا‬
æuJ b vÇè WÒÇu*Ç v WÑb*Ç dO WOU{Ç mU*Ç ádB æÃ äèUILK Òu
‫ل‬
ÊUIH çuuÇ WU s ÊUIHMÇ çc dFè .dD)Ç Çc q ÉQ è nOH WÒ
‫تداول‬
.WOUHÇ çc v WFU Ç ÉÏU*Ç ÕuBM Uë Iè UÏÇÏd

Ç æuJè Y
µ· ²°²² WM
dÇ Ébd'Ç
Without prejudice to Article III (b), in case no Commercial Oil

Discovery is established or no notice of Commercial Gas Discovery is
given by the end of the sixth (6th) year, as may be extended pursuant
to Article V (a) or in case CONTRACTOR surrenders the Area
under this Agreement prior to such time, EGPC shall not bear any of
the aforesaid expenses spent by CONTRACTOR.
(c) At least four (4) months prior to the beginning of each Financial
Year or at such other times as may mutually be agreed to by EGPC
and CONTRACTOR, CONTRACTOR shall prepare an Exploration
Work Program and Budget for the Area setting forth the Exploration
operations which CONTRACTOR proposes to carry out during the
ensuing Year.
The Exploration Work Program and Budget shall be reviewed by a
joint committee to be established by EGPC and CONTRACTOR after
the Effective Date of this Agreement. This Committee, hereinafter
referred to as the "Exploration Advisory Committee", shall consist
of six (6) members, three (3) of whom shall be appointed by EGPC
‫صورة إ‬
and three (3) by CONTRACTOR. The Chairman of the Exploration
Advisory Committee shall be designated by EGPC from among the
members appointed by it. The Exploration Advisory Committee shall
review and give such advice as it deems appropriate with respect to
‫لك‬
the proposed Work Program and Budget. Following review by the
‫تروني‬
Exploration Advisory Committee, CONTRACTOR shall make such
revisions as CONTRACTOR deems appropriate and submit the
‫ة ال يع‬
Exploration Work Program and Budget to EGPC for its approval.
Following such approval, it is further agreed that:
(i) CONTRACTOR shall not substantially revise or modify said
‫تد بها‬
Work Program and Budget nor reduce the approved budgeted

expenditure without the approval of EGPC;
(ii) In the event of emergencies involving danger of loss of lives
‫عند ا‬
or property, CONTRACTOR may expend such additional

unbudgeted amounts as may be required to alleviate such danger.
Such expenditure shall be considered in all aspects as Exploration
‫ل‬
‫تداول‬
Expenditure and shall be recovered pursuant to the provisions of

Article VII hereof.
²°²² WM
dÇ Ébd'Ç µ¸
ÏÇd_Ç æu ÉÑÇÏÅè ÊÇÏÇbÇè ÊÇbF*Çè ÏÇu*Ç WUJ WÒÇ mU*Ç lOL äèUI*Ç åbI ( Ï)
s Wu WONÇ æuJ è ¬YU 5U)Ç WÒÇu*Çè qLFÇ ZUd Uë Iè ÊUOKLFÇè
.dcÇ WHU
nOUJÇ s éÃ ÏÇb
èÃ qL%
V écÇè YU ÕU)Ç qLFÇ ZUd cOHM è ÏÇbÅ s ë u äèUI*Ç æuJ (à)
.WUMBÇ v WOd*Ç WLOK Ç äu_Ç l vAL U0è WOU ÉÁUHJ çcOHM
×dA .Ù.å.Ì ÌÑU WBB eÇd v çÄÇdÅ oè_Ç s æuJ b U ÁUM
Uè
èÃ WOKLF*Ç ÊU
ÇÑbÇ ÏÇbÅè ¬ÊUUOÇ W'UF q WONÇ WIÇu vK äuB(Ç
ÊU
ÇÑbÇ WU æS ÊUUOÇ çcN WduDÇ ÊU
ÇÑbÇ èÃ WBB*Ç WO
bMNÇ
éd& WOUHÇ çc cOHM WIKF éd Ã ÊU
ÇÑÏ WÃ Çcè WOIeOuO'Çè WOuuO'Ç
..Ù.å.Ì v
åUFÇ çdb VzUè åUFÇ çdb vÅ .Ù.å.Ì v YÇ ÊUOKL ÉÑÇÏS äèUI*Ç bNFè
pÐ r
U WONÇè WuJ(Ç dDè .WOMHÇ ÉÁUHJÇ éèÐ s UuJ æÃ 5F scKÇ
‫صورة إ‬
bM¬åUFÇ db*Ç VzU Çcè åUFÇ db*Ç äèUI*Ç Ïèeè .ULNMOOF Ñu tzUè åUFÇ db*Ç
ë UuI æÃ s ULNMJ9 WOU ÊUDK ¬åUFÇ db*Ç ÈUO
`zÇuKÇ WU cOHM ÇÑu
.WOUHÇ çc åUJ_ Uë Iè UNK2 èÃ WuJ(Ç s WU ULNOÅ ÑbB vÇ WOuUIÇ
‫لك‬
‫تروني‬
çc q v WID*Çè ÑbB èÃ ÊÑb vÇ WOuUIÇ `zÇuKÇ q äèUI*Ç vK éd è
.UNF ÖÑUF è WOUHÇ
‫ة ال يع‬
Uë UO WO1uI WM
lÑ q WUNM WOU Uë u (³°) 5 ä v WONK äèUI*Ç åbI (è)
lCè .Ñuc*Ç WM Ç lÑ ä äèUI*Ç UNIHÃ vÇ nOUJÇ `{u YÇ ×UAM
UNBH WONÇ ádB X% pc ÉbR*Ç WÑèdCÇ ÊÇbM *Ç WUè t
äèUI*Ç
‫تد بها‬
å
Ç aÑU s dNÃ (³) W Éb* pÐè WÏUFÇ qLFÇ ÊUU
ÁUMÃ Xè éÃ v
.æUO q
‫عند ا‬
äèUI*Ç ÑUD S WONÇ åuI æUOÇ Çc å

Ç aÑU s dNÃ (³) W éb vè
ë
‫ل‬
:ÊdÇ ÇÐÅ WU

‫تداول‬
¬Uë O fO nOUJÇ æUO æÃ – ±

µ¹ ²°²² WM
dÇ Ébd'Ç
(d) CONTRACTOR shall advance all necessary funds for all materials,
equipment, supplies, personnel administration and operations pursuant
to the Exploration Work Program and Budget and EGPC shall not be
responsible to bear or repay any of the aforesaid costs.
(e) CONTRACTOR shall be responsible for the preparation and
performance of the Exploration Work Program which shall be
implemented in a workmanlike manner and consistent with good
industry practices.
Except as is appropriate for the processing of data, specialized
laboratory engineering and development studies thereon, to be made
in specialized centers outside A.R.E. subject to EGPC’s approval, all
geological and geophysical studies as well as any other studies related
to the performance of this Agreement, shall be made in the A.R.E..
CONTRACTOR shall entrust the management of Exploration
operations in the A.R.E. to its technically competent General
Manager and Deputy General Manager. The names of such Manager
and Deputy General Manager shall, upon appointment, be forthwith
‫صورة إ‬
notied to the GOVERNMENT and to EGPC. The General Manager
and, in his absence, the Deputy General Manager shall be entrusted
by CONTRACTOR with sufcient powers to carry out immediately
all lawful written directions given to them by the GOVERNMENT
‫لك‬
or its representative under the terms of this Agreement. All lawful
‫تروني‬
regulations issued or hereafter to be issued which are applicable
hereunder and not in conict with this Agreement shall apply to
CONTRACTOR.
‫ة ال يع‬
(f) CONTRACTOR shall supply EGPC, within thirty (30) days from the
end of each calendar quarter, with a Statement of Exploration activity
showing costs incurred by CONTRACTOR during such quarter.
‫تد بها‬
CONTRACTOR's records and necessary supporting documents

shall be available for inspection by EGPC at any time during regular
working hours for three (3) months from the date of receiving each
‫عند ا‬
statement.
Within the three (3) months from the date of receiving such Statement,
‫ل‬
EGPC shall advise CONTRACTOR in writing if it considers:

‫تداول‬
(1) that the record of costs is not correct; or

²°²² WM
dÇ Ébd'Ç ¶°
WOèbÇ âu Ç ÑUF
Ã l vUL ÉÏÑu*Ç ÊUb)Ç èÃ lzUCÇ nOUJ æÃ èÃ – ²
çc bÑu Xè ÉbzU Ç bÑuÇ ×èdè ÉÏu'Ç v WKUL*Ç ÊUb)Ç èÃ lzUCK
vÇ ÊUb)Çè ÊUdA*Ç æÃ æQAÇ Çc v vÇd æÃ vK ¬ÊUb)Ç èÃ lzUCÇ
¬sdAFÇè W
ÏU Ç ÉÏU*Ç åUJ_ lC .Ù.å.Ì q ÇÏ s UNOK äuB(Ç -
¬UÑUF
Ã l V
UM äèUI*Ç UÏÑè vÇ ÏÇu*Ç WU æÃ èÃ – ³
.ÊUOKLFK WuIF WHB WÒ X O XKL vÇ nOUJÇ æÃ èÃ – ´
Çc v ÑU vÇ WKJA*Ç æQ v WONÇ l ÑèUA æÃ äèUI*Ç vK 5Fè
.ULNOKJ WO{d Wu vÅ äuuÇ èU æÃ 5dDÇ vKè ÏbBÇ
WO nOUJÇ ÏÇÏd
hB*Ç äèdÇ s WONK UÏÇb
o mU WÃè
ë UÏÇb
5F rOJ% ÑÇd èÃ âUHÇ vÅ quÇ
Uë UC ¬WONK ÑuHÇ vK ÇbI
(¥²[µ) WzU*Ç v nBè 5MÇ tOÅ Uë UC ¬ÑuO dF
lÇu WDO ÉbzU UNOÅ
‫صورة إ‬
mK*Ç lÏ tO V æU écÇ aÑUÇ s Ãb vÇ ÉdHÇ s pÐè ¬Uë uM
çc s "à" oK*Çè (²) (Ã) WFU Ç ÉÏULK Uë I WONK á)Ç q (mU*Ç)
ë
(mU*Ç pK ÕU)Ç nOUJÇ ÏÇÏd
Ç æUO .bI aÑU s ÇÑUÇ ‫لك‬
éÃ) WOUHÇ
‫تروني‬
v ÉÑuAM*Ç åUÑ_Ç èÃ rdÇ j
u oD*Ç ÑuO dF
q1è .ÏÇb Ç aÑU vè
vK 5ÑU Ç (lOÇè ÁÇdAÇ) édF
j
u q9 vÇè e1U äUOAUMUHÇ Ébd
‫ة ال يع‬
5 WOèÑè_Ç ÊLFÇ âu
v bÇè dN Éb* WÏu*Ç vJd_Ç ÑèbU lzÇÏuÇ
æU écÇ aÑUÇ 5 lÇè dN q s (±µ) dA fU åu q v æbM ãuM
‫تد بها‬
.wKFHÇ ÏÇb Ç aÑUè WONK á)Ç q (mU*Ç) mK*Ç lÏ tO V
fU)Ç åuOÇ v e1U äUOAUMUHÇ Ébd v ÑuO dF
dA åb WU vè
‫عند ا‬
ÑUO Ç lI tS ¬dF Ç Çc du rÑ æU V

é_ dN éÃ s (±µ) dA
‫ل‬
âu
v WO OzdÇ éd _Ç ãuMK .tÃ .æÇ pM vO
tbI écÇ ÑuO dF
vK
‫تداول‬
.bÇè dN Éb* vJdÇ ÑèbU lzÇÏuÇ s æbM ãuM 5 WOèÑè_Ç ÊLFÇ

¶± ²°²² WM
dÇ Ébd'Ç
(2) that the costs of goods or services supplied are not in line with the
international market prices for goods or services of similar quality
supplied on similar terms prevailing at the time such goods or
services were supplied, provided however, that purchases made
and services performed within the A.R.E. shall be subject to
Article XXVI; or
(3) that the condition of the materials furnished by CONTRACTOR
does not tally with their prices; or
(4) that the costs incurred are not reasonably required for operations.
CONTRACTOR shall confer with EGPC in connection with the
problem thus presented, and the parties shall attempt to reach a
settlement which is mutually satisfactory.
Any reimbursement due to EGPC out of the Cost Recovery Petroleum
as a result of reaching agreement or of an arbitral award shall be
promptly made in cash to EGPC, plus simple interest at LIBOR plus
‫صورة إ‬
two and half percent (2.5 %) per annum from the date on which
the disputed amount(s) would have been paid to EGPC according to
Article VII (a) (2) and Annex "E" of this Agreement (i.e., the date
‫لك‬
of rendition of the relevant Cost Recovery Statement) to the date of
‫تروني‬
payment. The LIBOR rate applicable shall be the average of the gure
or gures published by the Financial Times representing the mid-point
‫ة ال يع‬
of the rates (bid and ask) applicable to one month U.S. Dollars deposits
in the London Interbank Eurocurrency Market on each fteenth (15th)
day of each month occurring between the date on which the disputed
‫تد بها‬
amount(s) would have been paid to EGPC and the date on which it is
settled.
If the LIBOR rate is available on any fteenth (15th) day but is not
‫عند ا‬
published in the Financial Times in respect of such day for any reason,
the LIBOR rate chosen shall be that offered by Citibank N.A. to other
‫ل‬
‫تداول‬
leading banks in the London Interbank Eurocurrency Market for one

month U.S.Dollar deposits.
²°²² WM
dÇ Ébd'Ç ¶²
v ÑuO ÑUF
Ã tO q åu v (±µ) dA fU)Ç åuOÇ pÐ lè ÇÐS
u åb *Ç ÑuO dF
æuJ ¬æbM ãuM 5 WOèÑè_Ç ÊLFU qUFÇ âu
.ÑUF
_Ç çc qO tO r écÇ vUÇ åuOÇ v q *Ç dF Ç
v UNOK ÕuBM*Ç dNÃ (³) WÇ éb v äèUI*Ç ÑUD S WONÇ rI r ÇÐÅè
ë
.ÇbLF dF æUOÇ Çc æS ¬æUO éÃ vK UN{ÇdU ÉdIHÇ çc
WOUHÇ çc vCI0 .Ù.å.Ì v tUOKLF WÒÇ mU*Ç q lb äèUI*Ç åuI (Ò)
bO æèb WdB*Ç WKLFÇ ÁÇd äèUILK oè d(Ç quK WKU ÌÑU)Ç s ÊLF
s t ÍdB pM éÃ s èÃ WONÇ s .Ù.å.Ì v tUOKLF WÒÇ ÊUOLJU pÐè
ÊLFÇ ÁÇd v WONK Wuè_Ç vDF .vM_Ç bIMÇ äÇb
U åUOIÇ v WuJ(Ç
çc tO édA écÇ aÑUÇ fH v oD*Ç dF Ç fHM äèUI*Ç s WOM_Ç
.êdB*Ç vK_Ç pMÇ s ÊLFÇ
Vu0 éd& vÇ ÊUOKLFK WuKD*Ç WdB*Ç WKLFÇ äèUILK åbI æÃ v WONÇ äu ( Í)
ë
Éb*Ç ÊUuÇ ÊÇÑèÏ s Uë èU ÇÑÇbI äèUI*Ç s rK æÃ qUI WOUHÇ çc
‫صورة إ‬
ÊÇÑèb mU*Ç çc ÙÏu æÃ vK ¬.Ù.å.Ì v vL
dÇ ádBÇdF WOJd_Ç
vK_Ç pMK q
Çd pM éb ÌÑU)Ç v WONÇ ÈU v WOJd_Ç Éb*Ç ÊUuÇ
‫لك‬
WONÇ ÊUKD quL ÈU (Ç Çc s ÊUu *Ç åb è .ÉdUIU édB*Ç
‫تروني‬
.äèdÇ dÒè WIÇu ×dAè ¬WOM_Ç ÊLFÇ s UN WFUÇ ÊUdAÇè
W U)« …œU*«
‫ة ال يع‬
ΔϳέΎϳΗΧϻ΍ϭ ΔϳέΎΑΟϹ΍ ΕΎϳϠΧΗϟ΍
: ΔϳέΎΑΟϹ΍ – ΃
‫تد بها‬
WuJK äèUI*Ç vK ¬WOUHÇ çc æUd

aÑU bF (³) WUÇ WM Ç WUN v
æUd Ç aÑU v WOK_Ç WIDM*Ç s (¥²µ) WzU*Ç v sdAè W L vULÅ s
‫عند ا‬
æuJ æÃ vK."wKÇ WIDM" WOLM ÏuI èÃ bI vÅ cMO

í UNKu% r r vÇ
ÏuI vÅ UNKu% r r UNKUJ Y ÊUUDI ÉbÇè Ébè qJ v vKÇ Çc
‫ل‬
ÁUuÇ vM v pÐè ¬pÐ á vK äèUI*Çè WONÇ 5 âUHÇ r r U WOLM
‫تداول‬
.WbÇ tè vK vKÇ ÊUKD0

¶³ ²°²² WM
dÇ Ébd'Ç
If such fteenth (15th) day is not a day on which LIBOR rates

are quoted in the London Interbank Eurocurrency Market, the
LIBOR rate to be used shall be that quoted on the next following
day on which such rates are quoted.
If within the time limit of the three (3) month period provided for
in this paragraph, EGPC has not advised CONTRACTOR of its
objection to any Statement, such Statement shall be considered as
approved.
(g) CONTRACTOR shall supply all funds necessary for its operations
in the A.R.E. under this Agreement in freely convertible currency
from abroad. CONTRACTOR shall have the right to freely purchase
Egyptian currency in the amounts necessary for its operations in the
A.R.E. from EGPC or from any bank authorized by the GOVERNMENT
to conduct foreign currency exchanges. Priority shall be given to
EGPC to purchase the foreign currencies from CONTRACTOR at the
same applicable rate and date as such currencies may be purchased
from the National Bank of Egypt.
(h) EGPC is authorized to advance to CONTRACTOR the Egyptian
‫صورة إ‬
currency required for the operations under this Agreement against
receiving from CONTRACTOR an equivalent amount of U.S. Dollars
at the ofcial A.R.E. rate of exchange, such amount in U.S. Dollars
shall be deposited in an EGPC account abroad with a correspondent
‫لك‬
bank of the National Bank of Egypt, Cairo. Withdrawals from
‫تروني‬
said account shall be used for nancing EGPC's and its Afliated
Companie,s foreign currency requirements subject to the approval of
the Minister of Petroleum.
‫ة ال يع‬
ARTICLE V
MANDATORY AND VOLUNTARY RELINQUISHMENTS
(a) MANDATORY:
‫تد بها‬
At the end of the third (3rd) year after the Effective Date hereof,
CONTRACTOR shall relinquish to the GOVERNMENT a total of
twenty ve percent (25%) of the original Area on the Effective Date
‫عند ا‬
not then converted to a Development Lease or Leases "Area subject

to relinquish". Such relinquishment shall be in a single unit of whole
Exploration Blocks not converted to Development Leases unless
‫ل‬
‫تداول‬
otherwise agreed upon between EGPC and CONTRACTOR so as to

enable the relinquishment requirements to be precisely fullled.
²°²² WM
dÇ Ébd'Ç ¶´
YÇ Éd ä tOUF UNOÅ ÑUA*Ç "wKÇ WIDM"à ØUHÇ äèUILK Òu
Vè .äèdÇ dÒè WIÇu vK äuB(Ç ×dA ¬ÊÇuM
(³) Ë WGUÇè WOUÇ
qLA q_Ç vK dNÇ (¶) W vKÇ bu q WONK ÑUD Å .bI äèUI*Ç vK
WOUÇ YÇ Éd ä "wKÇ WIDM"w UN åUOIÇ le*Ç WOU{Ç WOMHÇ WDA_Ç
×dA WOè_Ç YÇ Éd bF Ub äèUI*Ç ÑU vÇè ÊÇuM
(³) Ë WGUÇ
¬WOU{Ç WOMHÇ WDA_Ç pK cOHM WÒÇ ÊUIHMÇè nOUJU Uë UO äèUI*Ç .bI
ÊUÇeÇ vÅ WU{U WOMHÇè WOU*Ç ÊUÇeÇ pK äèUI*Ç åÇeÇ åuNH*Ç sè
ÉÏU*Ç åUJ_ Uë I ÊÇuM
(³) Ë WGUÇ WOUÇ YÇ ÉdH WU)Ç YÇ
åeKè ¬WOUHÇ çc s WFÇdÇ ÉÏU*Ç åUJÃ oDè ¬WOUHÇ çc s (È) WFÇdÇ
WGOBU WOU{Ç WDA_Ç pK nOUJ éèU mK0 æUL{ ÈUD .bI äèUI*Ç
dO WM lb Uë CÃ äèUI*Ç åeK UL ¬WOUHÇ çc s "²/±-Ì" oK*U WMO*Ç
."wKÇ WIDM"à ØUHÇ dOE ÉÏd
‫صورة إ‬
çc s ÉdO _Ç ËÇ ÊÇdIHÇè sdAFÇè WUÇè WUÇ 5ÏU*U ä Ç åb l
s (¶) W
ÏU Ç WM Ç WUN bM vK æÃ äèUI*Ç vK 5F ¬(Ã) W U)Ç ÉÏU*Ç
.WOLM ÏuI vÅ cMO
í UNKu% r r vÇ WIDM*Ç s vUÇ s YÇ Éd
‫لك‬
vÇè WOLM ÏuI vÅ UNKu% VÇuÇ ÊUU *Ç æS q éÃ Xè v tÃ åuNH*Ç sè
‫تروني‬
Uë MÑ dF (Ï) WUÇ ÉÏULK Uë Iè ¬tIÇu* äèdÇ dÒè vÅ VK UN åb b æuJ
‫ة ال يع‬
.WOLM ÏuI vÅ Xu UNQ ¬WIÇu*Ç çcN
UNO èÃ tO r Y ÊUUD èÃ ÙUD éÃ s vK æÃ äèUI*Ç s Uë uKD æuJ s
WUÇ ÉÏU*Ç v UNOÅ ÑUA*Ç WOMeÇ ÉdHÇ q ÒUGÇ èÃ XeK WÑU& d áUAÇ
‫تد بها‬
Uë UAÇ dF dÇ çc XU ÇÐÅ U UN v ÑdI vJ äèUILK WuML*Çè (Ì)
tuB q
ÑÃï écÇ YÇ ÙUD s vKÇ ÑdI èÃ ¬WOLMÇ o Uë ÑU&
‫عند ا‬
Ïuè vK WIÇu*Ç v WONÇ o ÉUÇd l ¬ÒUGK éÑU& áUAU ÇÑUD Å ë WONK
s (à) ÉdIHÇ ÊUOCI0 ä Ç åb lè (Ì) WUÇ ÉÏULK Uë Iè éÑU& áUAÇ
‫ل‬
‫تداول‬
.WUÇ ÉÏU*Ç
¶µ ²°²² WM
dÇ Ébd'Ç
Subject to the approval of the Minister of Petroleum, during the next

three (3) year Exploration period, CONTRACTOR may retain the
"Area subject to relinquish" mentioned above, CONTRACTOR shall
submit at least six (6) months pre-notication to EGPC, including the
additional technical activities to be undertaken in the "Area subject
to relinquish", during the next three (3) year Exploration period that
CONTRACTOR elects to extend beyond the initial Exploration
period, provided that CONTRACTOR shall submit a statement
of costs and expenses of such additional technical activities, it is
understood that CONTRACTOR is committed to such nancial and
technical commitments in addition to the Exploration commitments
related to the second three (3) year Exploration period according to
Article IV (b), provisions of Article IV of this Agreement shall be
applied, CONTRACTOR shall submit a Letter of Guaranty with an
equal amount to the costs of such additional activities in the form
specied in Annex "C-1/2" of this Agreement, and shall also pay an
unrecoverable bonus for retaining "the Area subject to relinquish".
‫صورة إ‬
Without prejudice to Articles III and XXIII and the last three paragraphs
of this Article V (a), at the end of the sixth (6th) year of the Exploration
period, CONTRACTOR shall relinquish the remainder of the Area
not then converted to Development Leases.
‫لك‬
It is understood that at the time of any relinquishment the areas to
‫تروني‬
be converted into Development Leases and which are submitted to
the Minister of Petroleum for his approval according to Article III (d)
‫ة ال يع‬
shall, subject to such approval, be deemed converted to Development
Leases.
CONTRACTOR shall not be required to relinquish any Exploration
‫تد بها‬
Block or Blocks on which a Commercial Oil or Gas Well is discovered

before the period of time referred to in Article III (c) given to
CONTRACTOR to determine whether such Well is a Commercial
Discovery worthy of Development or to relinquish an Exploration
‫عند ا‬
Block in respect of which a notice of Commercial Gas Discovery has

been given to EGPC subject to EGPC's right to agree on the existence
‫ل‬
of a Commercial Discovery pursuant to Article III (c), and without

‫تداول‬
prejudice to the requirements of Article III (e).

²°²² WM
dÇ Ébd'Ç ¶¶
YÇ Éd WUN v ÑU Ç èÃ dH(Ç X% F ÑUÇ ébÅ XU ÇÐÅ U WU vè
ÉdH äèUILK `L tS ¬WOè_Ç YÇ ÉdH WI*Ç ÏÇbÇ Éd WUN èÃ WOè_Ç
èÃ ÒUGK èÃ XeK WÑU& d áUAÇ oOI% s tMOJL dNÃ (¶) W
vK be
qOIÇ Çc s ÏÇbÇ éÃ æÃ vK .äÇu_Ç V vK ¬Uë ÑU& Uë UAÇ oI vJ
U0 ¬WOUÇ YÇ Éd æUBI tOK Vd áu
dNÃ (¶) W Ç Éd ÒèU U0
.d_Ç tKD U u vK ¬Éb*Ç pK éèU
:ΔϳέΎϳΗΧϹ΍ – Ώ
WIDM*Ç s Áe éÃ èÃ q s Xè éÃ v çÑUO Ç i0 vK æÃ äèUILK Òu
b æuJ æÃ ×dAè Y ÊUUD s ÁÇeÃ èÃ WKU Y ÊUUD ÉÑu v
ÉÏU*Ç Vu0 ÉdHÇ çc s YÇ ÊUÇeU éÑUO Ç vKÇ Çc aÑU v vèÃ
.(È) WFÇdÇ
tOK ÕuBM*Ç éÑUÇ vKÇ ÈU s rB WOUHÇ çc Vu0 ÊUOK éÃ
‫صورة إ‬
.çÃ (Ã) W U)Ç ÉÏU*Ç v
WONÇ 5 ãdA*Ç âUHU WU WÃ s vKÇ æuJ éÑUÇ áUAÇ bF
‫لك‬
ÕuBM*Ç YÇ Éd vULÅ WUN bM r écÇ vKÇ ÁUM
U pÐè äèUI*Çè
‫تروني‬
.tOUF tOK
VI UNOK äuB(Ç - vÇ ¬ÊUuKF*Çè ÊUUOÇ WU åbI æÃ ¬äèUI*Ç vK 5F
‫ة ال يع‬
vÅ ¬WOUHÇ çc Vu0 W U)Ç ÉÏU*Çè (à) WUÇ ÉÏULK Uë I WOèdÇ ÊUOKLFÇ
éÑUÅ æU ÁÇu
) vKÇ bF ÑuHÇ vK (EUG) ÌUÇè áUAJ
dB WÇu
‫تد بها‬
Uë u (³°) 5 tU bu v ¬çÃ ÉÏU*Ç çc v Ñuc u UL ¬(êÑUO Ç èÃ
.wKÇ ÇcN WONÇ ÏULÇ aÑU s
‫عند ا‬
ë
vK ÇÁUMè ¬åÇeÇ Éd ÁUCIÇ bM èÃ Çc vKÇ Xè bM ¬äèUI*Ç vK V
s ¬dA WMUÇ ÉÏU*Ç v WMO*Ç WOOÇ `zÇuKÇ lOL ÙUÇ s bQÇ WONÇ VK
‫ل‬
‫تداول‬
.WOd*Çè WuI*Ç WLOK Ç äèdÇ WUM rEM Uë Iè ¬WOUHÇ çc

¶· ²°²² WM
dÇ Ébd'Ç
In the event at the end of the initial Exploration period or the successive
extension of the initial Exploration period, a well is actually drilling
or testing, CONTRACTOR shall be allowed up to six (6) months to
enable it to discover a Commercial Oil or Gas Well or to establish
a Commercial Discovery, as the case may be. However, any such
extension of up to six (6) months shall reduce the length of the next
succeeding Exploration period, as applicable, by that amount.
(b) VOLUNTARY:
CONTRACTOR may, voluntarily, during any period relinquish all
or any part of the Area in whole Exploration Blocks or parts of
Exploration Blocks provided that at the time of such voluntary
relinquishment its Exploration obligations under Article IV (b) have
been satised for such period.
Any relinquishments hereunder shall be credited toward the mandatory
provisions of Article V (a) above.
‫صورة إ‬
Following Commercial Discovery, EGPC and CONTRACTOR shall
mutually agree upon any area to be relinquished thereafter, except
‫لك‬
for the relinquishment provided for above at the end of the total
‫تروني‬
Exploration period.
All data and information obtained following Petroleum Operations
under this Agreement, according to Article III (e) and Article (V),
‫ة ال يع‬
shall be submitted by CONTRACTOR to EUG immediately after

relinquishment (MANDATORY or VOLUNTARY) as mentioned
‫تد بها‬
in this Article above, not later than thirty (30) days from EGPC's
approval on this relinquishment.
By the time of such relinquishment or the expiry date of the Concession
‫عند ا‬
period, CONTRACTOR shall ensure that all environmental regulations

set out in Article XVIII herein, have been followed, in accordance
‫ل‬
‫تداول‬
with sound and accepted Petroleum industry practices, if so requested

by EGPC.
²°²² WM
dÇ Ébd'Ç ¶¸
W
œU « …œU*«
ϱέΎΟΗϟ΍ ϑΎηΗϛϻ΍ ΩόΑ ΕΎϳϠϣόϟ΍
qOJàààA vK äèUI*Çè WàààONÇ sààà UàààIH æÃ UàààÅ ¬êÑUàààÇ áUàààAÇ VàààI -
WdàààA äUL_Ç çc ÏUMààà
Å r èÃ ÌUÇè WàààOLMÇ äULQ åUàààOIK "WdàààA WàààM'"
oK*U UNOÅ ÑUA*Çè çÃ vè_Ç ÉÏU*U WdF*Ç "ÊUOKLFU WLzUIÇ WdAÇ" "uJOU"
.WOUHÇ çc s "Ï"
UNO rU ¬WLU Wd æuJ áu
¬"Ï" oKLK Uë I "ÊUOKLFU WLzUIÇ WdAÇ" (Ã)
v WÑU Ç `zÇuKÇè 5ÇuIK lC ¬(¥µ°) WzU*U 5 L W M ë äèUI*Çè WONÇ
WOUHÇ çc ÕuB l `zÇuKÇè 5ÇuIÇ çc UNO ÖÑUF vÇ Ïèb(Ç v .Ù.å.Ì
od ÊUOKLFU WLzUIÇ WdAÇ fO
Q bI.ÊUOKLFU WLzUIÇ WdAÇ fO
Q bI èÃ
."Ï" oKL WOUHÇ çcN
‫صورة إ‬
åUJÃ oOD s æUOHF ¬WOUHÇ çc ÖÇd_ ¬äèUI*Çè ÊUOKLFU WLzUIÇ WdAÇ (È)
‫لك‬
5Çu s UNK q Uè WKI *Ç èÃ WOU(Ç UNbF WOÇ `zÇuKÇè 5ÇuIÇ
‫تروني‬
:`zÇu èÃ
.åUFÇ ÙUDIÇ ÊUdA 5KUFÇ åUE æuU ÑÇbS ±¹·¸ WM ´¸ rÑ æuUIÇ -
‫ة ال يع‬
WOuÇ ÊUdè WLU *Ç ÊUd æuU ÑÇbS ±¹¸± WM ±µ¹ rÑ æuUIÇ -
.ÉÏèb;Ç WOu *Ç ÊÇÐ ÊUdAÇè rN
_U
‫تد بها‬
¬tUdè åUFÇ ÙUDIÇ ÊUO æQ v æuU ÑÇbS ±¹¸³ WM ¹· rÑ æuUIÇ -

‫عند ا‬
è ¬åUFÇ äUL_Ç ÙUD ÊUd æuU ÑÇbS ±¹¹± WM ²°³ rÑ æuUIÇ -
åUJÃ ¬wdB*Ç ÒUN'Çè éed*Ç pMÇ æuU ÑÇbS ²°²° WM ±¹´ rÑ æuUIÇ -
‫ل‬
‫تداول‬
.wM_Ç bIMU qUFÇ rOEM æQA ¬fU)Ç ÈUÇ

¶¹ ²°²² WM
dÇ Ébd'Ç
ARTICLE VI
OPERATIONS AFTER COMMERCIAL DISCOVERY
- Following the Commercial Discovery, EGPC and CONTRACTOR shall
agree either to form a "Joint Committee" to perform the Development
and Production operations or entrust such operations to "NAPETCO"
the "Operating Company", as dened in Article I above, and referred to
in Annex "D" of this Agreement.
(a) "Operating Company" pursuant to Annex "D", shall be a joint stock
company, in which EGPC and CONTRACTOR each contribute by
fty percent (50%). Operating Company shall be subject to the laws
and regulations in force in the A.R.E. to the extent that such laws and
regulations are not inconsistent with the provisions of this Agreement
or the Charter of Operating Company. The Charter of Operating
Company is hereto attached as Annex " D".
‫صورة إ‬
(b) Operating Company and CONTRACTOR shall, for the purpose of this
Agreement, be exempted from the following laws and regulations as
now or hereafter amended or substituted:
‫لك‬
‫تروني‬
- Law No. 48 of 1978, on the employee regulations of public sector
companies;
‫ة ال يع‬
- Law No. 159 of 1981, promulgating the law on joint stock companies,
partnership limited by shares and limited liability companies;
- Law No. 97 of 1983 promulgating the law concerning public sector
‫تد بها‬
organizations and companies;

- Law No. 203 of 1991 promulgating the law on public business sector
‫عند ا‬
companies; and
- Provisions of Chapter 5 organizing dealings in foreign currencies, of
‫ل‬
‫تداول‬
Law No. 194 of 2020 concerning the Central Bank and the Banking
Sector.
²°²² WM
dÇ Ébd'Ç ·°
WOLMÇè YÇ ÊUOKL s beLK WÒÇuè qL ZUd ÊUOKLFU WLzUIÇ WdAÇ bF (Ì)
(¹°) 5F bF pÐè ¬æUd Ç aÑU UNO Ãb vÇ WOU*Ç WM Ç s vI*Ç ÁeK
éuM
ÌUÅ ZUd ÊUOKLFU WLzUIÇ WdAÇ bFè .WOUHÇ çc æUd
aÑU s Uë u
¬WOLMÇè YÇ ÊUOKL s be ÁÇd WOUÇ WOU*Ç WM K WÒÇu*Çè qLFÇ ZUdè
éÃ v èÃ) WÑU'Ç WOU*Ç WM Ç WUN q dNÃ (´) WFÑÃ ÒèU bu v pÐè
q WÇb WIU Ç dNÃ (´) WFÑ_Ç vè (äèUI*Çè WONÇ 5 tOK oH d Â bu
åbIè .(äèUI*Çè WONÇ 5 tOK oH d Â bu éÃ v èÃ) pÐ bF WOU WOU WM
.ULNOK WIÇuLK ÉÑÇÏÇ fK* WÒÇu*Çè qLFÇ ZUdè ÌUÇ ZUd

q s (²°) sdAFÇ åuOÇ ébF bu v ÊUOKLFU WLzUIÇ WdAÇ åuI (Ï)
ÊUIHMÇ WODG WbIMÇ UNUUOÇ ÙuL0 äèUI*Ç vÅ ÈuJ dbI .bI dN
Éb*Ç ÊUuÇ ÊÇÑèb ÉÑbI vUÇ dNAÇ s vUÇ nBMÇè äè_Ç nBMÇ v
‫صورة إ‬
V dbIÇ Çc ÈU bMè ¬ÉbLF*Ç WÒÇu*Ç UÑUÇ v c Q æÃ vK ¬WOJd_Ç
.dNAÇ WUN v UNb UÄUI lu WbI WÃ ÑUÇ v c R æÃ
‫لك‬
ÉdIHÇ v Ñuc*Ç q
Çd*Ç pMÇ vÅ dNAÇ pÐ s ÉÏb;Ç ÉdHU WU)Ç mU*Ç lbè
‫تروني‬
ÇÐÅè ¬wÇuÇ vK (±µ) dA fU)Ç åuOÇè (±) äè_Ç åuOÇ v pÐè ¬çUÏÃ (à)
‫ة ال يع‬
.tOK écÇ qLFÇ åu v r lbÇ æS ÊDFÇ åUÃ s lbK Ïb;Ç åuOÇ æU
ÍuH ÈU v ÌÑU)Ç v UNdB X% kH% æQ ÊUOKLFU WLzUIÇ WdAK ÍdB (à)
‫تد بها‬
bIMU äèUI*Ç UNbI vÇ mU*U ¬ÉdUIU édB*Ç vK_Ç pMK q

Çd pM éb
r vÇ ÊUb)Çè lzUCÇ æULÃ lb ÈU (Ç Çc s ÊUu *Ç åb è .wM_Ç
‫عند ا‬
WNÇu* .Ù.å.Ì v vK pM vÅ WÒÇ mU*Ç què ÌÑU)Ç v UNOK äuB(Ç
v UNOK ÕuBM*Ç UNDAÃ æQA édB*Ç tOM'U ÊUOKLFU WLzUIÇ WdAÇ ÊUIH
‫ل‬
‫تداول‬
.WOUHÇ çc
·± ²°²² WM
dÇ Ébd'Ç
(c) After ninety (90) days from the Effective Date of this Agreement, the
Operating Company shall prepare a Work Program and Budget for
further Exploration and Development operations for the remainder of
the Financial year in which the Effective Date starts; and not later than
four (4) months before the end of the current Financial Year (or such
other date as may be agreed upon by EGPC and CONTRACTOR)
and four (4) months preceding the commencement of each succeeding
Financial Year thereafter (or such other date as may be agreed upon
by EGPC and CONTRACTOR), Operating Company shall prepare
an annual Production Schedule, Work Program and Budget for further
Exploration and Development for the succeeding Financial Year. The
Production Schedule, Work Program and Budget shall be submitted to
the Board of Directors for approval.
(d) Not later than the twentieth (20th) day of each month, Operating
Company shall furnish to CONTRACTOR a written estimate of its
‫صورة إ‬
total cash requirements for expenditure for the rst half and the second
half of the succeeding month expressed in U.S. Dollars having regard
to the approved Budget. Such estimate shall take into consideration
any cash expected to be on hand at month end. ‫لك‬
‫تروني‬
Payment for the appropriate period of such month shall be made to
the correspondent bank designated in paragraph (e) below on the rst
(1st) day and fteenth (15th) day respectively, or the next following
‫ة ال يع‬
business day, if such day is not a business day.
(e) Operating Company is authorized to keep at its own disposal abroad
‫تد بها‬
in an account opened with a correspondent bank of the National Bank

of Egypt, Cairo, the foreign funds advanced by CONTRACTOR.
Withdrawals from said account shall be used for payment for goods
‫عند ا‬
and services acquired abroad and for transferring to a local bank in

the A.R.E. the required amount to meet the expenditures in Egyptian
‫ل‬
Pounds for Operating Company in connection with its activities under

‫تداول‬
this Agreement.
²°²² WM
dÇ Ébd'Ç ·²
WLzUIÇ WdAÇ åbI WOU WM

q WUNM WOUÇ Uë u (¶°) 5 Ç ä vè
VJ s tOK Uë bB Uë UO .Ù.å.Ì v WB*Ç bIMÇ WUÑ ÊUDK
vÅ ÊUOKLFU
mU*Çè ÈU (Ç pc szÇbÇ VU'Ç v ÉbOI*Ç mU*Ç 5 ¬t ádF ÊUU WFÇd
.WM Ç WUN v vI*Ç bOdÇè tM WdBM*Ç
WdAK sJ1 vÇè ÊON Ç v ÉbzÇÒ WU ¬ÌUÇ ÊUOKL Éd ä Êbè ÇÐÅ (è)
v XÑ ÇÐÅ ÉbzÇeÇ WUDÇ pK åb
WONÇ æS ¬UNÇb
Ç ÊUOKLFU WLzUIÇ
.ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç ÊUOKLF ÑÇd{Ã èÃ WOU ÁUÃ WÃ æèÏ pÐ
WFU « …œU*«
ΝΎΗϧϹ΍ ϡΎγΗϗ΍ϭ ΕΎϓϭέλϣϟ΍ϭ ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγ΍
:ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγϻ ιλΧϣϟ΍ ϝϭέΗΑϟ΍ (˺) ( ΃)
‫صورة إ‬
qà äèUàààI*Ç Ïd ¬WOUHÇ çcà v WFÇd*U WU)Ç ÕuBMÇ ÉUÇd l
ÊUàIHMÇè ÊUèdB*Çè nOUJÇ WU s WONÇ WD
Çu çÏULÇ - U WM
lÑ
‫لك‬
çcàà Vu0 UààN WIKF*Ç ÊUOKLFÇè WOLMÇè YÇ ÊUààOKL lOL WU)Ç
‫تروني‬
ZM*Ç äèdÇ q s ¬(¥´°) WzU*Ç v 5FÑÃ s Uë LB è Ïèb v ¬WOUHÇ
¬WOUHÇ çc vCI0 WIDM*Ç Ïèb q ÇÏ WOLMÇ ÏuI lOL s t kH;Çè
‫ة ال يع‬
ÉÑUF vK ULO äèdÇ Çc vÅ ÑUAè .WOèdÇ ÊUOKLFÇ v åb r écÇè
."nOUJÇ ÏÇÏd
hB*Ç äèdÇ"
‫تد بها‬
ÊUèdB*Çè nOUJÇ q nOMB bb% ÖdG WOUÇ ÊUHdFÇ oDè

‫عند ا‬
:rÏÇÏd
ÊUIHMÇè
ÊUèdB*Ç s UNB U è YÇ ÊUèdBè nOUJ q vMF "YÇ ÊUIH" (±)
‫ل‬
‫تداول‬
.WOuLFÇè WÑÇÏÇ ÊUèdB*Çè ÉdU*Ç dO

·³ ²°²² WM
dÇ Ébd'Ç
Within sixty (60) days after the end of each Financial Year, Operating
Company shall submit to the appropriate exchange control authorities
in the A.R.E. a statement, duly certied by a recognized rm of auditors,
showing the funds credited to that account, the disbursements made
out of that account and the balance outstanding at the end of the Year.
(f) If and for as long during the period of production operations there
exists an excess capacity in facilities which cannot during the period
of such excess be used by the Operating Company, EGPC shall have
the right to use the excess capacity if it so desires without any nancial
or operational disadvantage to the CONTRACTOR or the Operating
Company.
ARTICLE VII
RECOVERY OF COSTS AND EXPENSES AND
PRODUCTION SHARING
‫صورة إ‬
(a) (1) Cost Recovery Petroleum:
Subject to the auditing provisions under this Agreement,
CONTRACTOR shall recover quarterly all costs, expenses and
‫لك‬
expenditures in respect of all the Exploration, Development and
‫تروني‬
related operations under this Agreement and which was approved by
EGPC to the extent and out of forty percent (40%) of all Petroleum
‫ة ال يع‬
produced and saved from all Development Leases within the Area
hereunder and not used in Petroleum operations. Such Petroleum is
hereinafter referred to as "Cost Recovery Petroleum".
‫تد بها‬
For the purpose of determining the classication of all costs,

expenses and expenditures for their recovery, the following terms
‫عند ا‬
shall apply:
1. "Exploration Expenditures" shall mean all costs and expenses
‫ل‬
for Exploration and the related portion of indirect expenses and

‫تداول‬
overheads.
²°²² WM
dÇ Ébd'Ç ·´
ÊUèdB ÁUMààà
U) ¬WOLMÇ ÊUèdBè nOUJ q vMF "WOLMÇ ÊUIH" (²)
WÑÇÏÇ ÊUàààèdB*Çè ÉdàààU*Ç dO ÊUèdB*Ç sààà UNB Uàààè ¬(qOGàààAÇ
.WOuLFÇè
bF X9 vÇ ÊUIHMÇè ÊUèdB*Çè nOUJÇ q vMF "qOGAÇ ÊUèdB" (³)
ÉÏU WKUIÇ dO ÊUIHMÇè ÊUèdB*Çè nOUJÇ vè vè_Ç éÑUÇ ÌUÇ
.ãN

äu_Ç WUOè ÍÅè ÑUÇ ÍÅ qOGAÇ ÊUèdB qLA ¬pÐ lè
¬dH(Ç ÉÏUÅè (Sidetracking) vU'Ç dH(Ç :wK U2 Uë Ã qLA UNMJè
ÊUU{Çè qÃ s Áe èÃ äuÃ äÇb
Ç ¬dK rzÇbÇ dNÇ ¬d WU dOOGè
.WO OzdÇ ÉdLFÇè ÊÇbbÇè ÊUMO Çè
hB*Ç äèdÇ s qOGAÇ ÊUèdBè WOLMÇè YÇ ÊUIH Ïd è
:wUÇ uMÇ vK nOUJÇ ÏÇÏd

‫صورة إ‬
¬wè_Ç éÑUÇ ÌUÇ Áb q UNM rÇd U pÐ v U0 ¬"YÇ ÊUIH" ±
WLEM WM äèÃ tO X9 écÇ aÑUÇ vMF WOUHÇ çc ÖÇd_ écÇè
W L äbF0 Ïd ¬ÒUGK rOK ÊUOKL äèÃ åU9Å aÑU èÃ åU)Ç XeÇ s
‫لك‬
‫تروني‬
XKL vÇ WOdCÇ WM Ç v UÅ Ãb ¬Uë uM
(¥²µ) WzU*U sdAè
‫ة ال يع‬
ÌUÇ UNO Ãb vÇ WOdCÇ WM Ç v èÃ ÊUIHMÇ çc UNO XFÏè
.Uë I æuJ 5ÑUÇ éÃ ¬wè_Ç éÑUÇ
éÑUÇ ÌUÇ Áb q UNM rÇd U pÐ v U0 ¬"WOLMÇ ÊUIH" ²
‫تد بها‬
WM äèÃ tO X9 écÇ aÑUÇ vMF WOUHÇ çc ÖÇd_ écÇè ¬wè_Ç
Ïd ¬ÒUGK rOK ÊUOKL äèÃ åUà9Å aÑU èÃ åU)Ç XààeÇ s WLEM
‫عند ا‬
WOdCÇ WM Ç v UÅ Ãb ¬Uë uM

(¥²µ) WzU*U sdAè W L äbF0
‫ل‬
UNO Ãb vÇ WOdCÇ WM Ç v èÃ ÊUIHMÇ çc UNO XFÏè XKL vÇ
‫تداول‬
.Uë I æuJ 5ÑUÇ éÃ ¬wè_Ç éÑUÇ ÌUÇ

·µ ²°²² WM
dÇ Ébd'Ç
2. "Development Expenditures" shall mean all costs and expenses for

Development (with the exception of Operating Expenses) and the
related portion of indirect expenses and overheads.
3. "Operating Expenses" shall mean all costs, expenses and
expenditures made after initial Commercial Production, which
costs, expenses and expenditures are not normally depreciable.
However, Operating Expenses shall include work over, repair and
maintenance of assets but shall not include any of the following:
sidetracking, re-drilling and changing of the status of a well, permanent
abandonment of a well, replacement of assets or part of an asset,
additions, improvements, renewals or major overhauling.
Exploration Expenditures, Development Expenditures and Operating
Expenses shall be recovered from Cost Recovery Petroleum in the
following manner:-
(i) "Exploration Expenditures", including those accumulated
‫صورة إ‬
prior to the commencement of initial Commercial Production,
which for the purposes of this Agreement shall mean the date
on which the rst regular shipment of Crude Oil or the rst
‫لك‬
deliveries of Gas are made , shall be recoverable at the rate
‫تروني‬
of twenty ve percent (25 %) per annum starting either in
the Tax Year in which such expenditures are incurred and
paid or the Tax Year in which initial Commercial Production
‫ة ال يع‬
commences, whichever is the later date.
(ii) "Development Expenditures", including those accumulated
prior to the commencement of initial Commercial Production
‫تد بها‬
which for the purposes of this Agreement shall mean the date
on which the rst regular shipment of Crude Oil or the rst
‫عند ا‬
deliveries of Gas are made, shall be recoverable at the

rate of twenty ve percent (25 %) per annum starting either
in the Tax Year in which such expenditures are incurred and
‫ل‬
‫تداول‬
paid or the Tax Year in which initial Commercial Production

commences, whichever is the later date.
²°²² WM
dÇ Ébd'Ç ·¶
¬wè_Ç éÑUÇ ÌUÇ aÑU bF XFÏè XKL vÇ "qOGAÇ ÊUèdB" ³
WLEM WM äèÃ tO X9 écÇ aÑUÇ vMF WOUHÇ çc ÖÇd_ écÇè
UÅ Ïd áu
¬ÒUGK rOK ÊUOKL äèÃ åU9Å aÑU èÃ åU)Ç XeÇ s
èÃ ÊUèdB*Çè nOUJÇ çc UNO XFÏè XKL vÇ WOdCÇ WM Ç v
5ÑUÇ éÃ ¬wè_Ç éÑUÇ ÌUÇ UNO Ëb vÇ WOdCÇ WM Ç v
.Uë I æuJ
ÊUIHMÇ èÃ ÊUèdB*Ç èÃ nOUJÇ XU æÃ WOd{ WM
WÃ v Ëb ÇÐÅ ´
be WIU Ç (³) è (²) è (±) ÊÇdIHÇ åUJÃ Vu0 UÏÇÏd
Ç VÇuÇ
¬WOdCÇ WM Ç pK v nOUJÇ ÏÇÏd
hB*Ç äèdÇ q WLO vK
vÅ WOUÇ WOdCÇ ÊÇuM Ç èÃ WM Ç v UÏÇÏd
qd ÉÏUeÇ æS
‫صورة إ‬
WOUHÇ çc ÁUCIÇ bF äU WQ pÐ r Ã vK ¬qUJU Ïd æÃ
.äèUILK W MU
ë
¬Uë IU
UNOÅ ÑUA*Ç ÊbF*Ç vK ÇÁUM ¬ ÊUèdB*Çè nOUJÇ ÏÇÏd
Ç ‫لك‬ µ
‫تروني‬
æS ¬pÐ lè (WM
lÑ qJ ldÇ W M) Uë O
UM WM
lÑ q vK ÙÒuO
5F WM
lÑ v UÏÇÏd
Ç r ÏÇÏd
WKU ÊUèdBè nOUJ WÃ
‫ة ال يع‬
.tOK écÇ WM Ç lÑ v UÏÇÏd

qd ¬lÒuÇ ÇcN Uë F
ä Ébb ÊUIH èÃ ÊÇÑUL
Ç WÃ çÃ -²è -± bMÇ s vM ¶
‫تد بها‬
Ïd UNS ¬WOUHÇ çcN ÉÏÑÇuÇ åÇeÇ Éd s ÊÇuM

(´) lÑÃ d Â
WOUHÇ Éd s WU*Ç WOI*Ç WuM
ldÇ ÊÇdHÇ ÑÇb vK Uë O
UM
‫عند ا‬
ë åÇeÇ
XFÏè XKL vÇ WOdCÇ WM Ç ä v WM Ç lÑ s ÇÁb
‫ل‬
‫تداول‬
.ÁUNÇ aÑU vè ÊUIHMÇ çc UNO

·· ²°²² WM
dÇ Ébd'Ç
(iii) "Operating Expenses", incurred and paid after the date of

initial Commercial Production, which for the purposes
of this Agreement shall mean the date on which the rst
regular shipment of Crude Oil or the rst deliveries of
Gas are made, shall be recoverable either in the Tax Year
in which such costs and expenses are incurred and paid
or the Tax Year in which initial Commercial Production
occurs, whichever is the later date.
(iv) To the extent that, in a Tax Year, costs, expenses or
expenditures recoverable per paragraphs (i), (ii) and
(iii) preceding, exceed the value of all Cost Recovery
Petroleum for such Tax Year, the excess shall be carried
forward for recovery in the next succeeding Tax Year(s)
until fully recovered, but in no case after the termination
‫صورة إ‬
of this Agreement, as to CONTRACTOR.
(v) The recovery of costs and expenses, based upon the rates
‫لك‬
referred to above, shall be allocated to each quarter
‫تروني‬
proportionately (one fourth to each quarter). However,
any recoverable costs and expenses not recovered in one
‫ة ال يع‬
quarter as thus allocated, shall be carried forward for
recovery in the next quarter.
(vi) Any new investments or costs during the last four (4)
‫تد بها‬
years from the obligation period stated in this Agreement

shall be excluded from item 1- and 2- above, and shall be
‫عند ا‬
recoverable proportionately over the remaining available

quarters of the Concession Agreement period starting
‫ل‬
from the quarter in which such costs are incurred and

‫تداول‬
paid during the Tax Year, and till the end date.
²°²² WM
dÇ Ébd'Ç ·¸
WFU Ç ÉÏU*Ç s (³) (Ã) ÉdIHÇ v tOK ÕuBM u U ÁUM

U (²)
qB æÃ t o äèUI*Ç æS ¬WFU Ç ÉÏU*Ç s (±) (à) ÉdIHÇè
nOUJÇ ÏÇÏd
hB*Ç äèdÇ q ¬WM
lÑ q pK1è vK
ÉÏULK Uë Iè ÉÏb;Ç WOHOJU tO ádBÇè tOK äuB(Ç r écÇ
ÏÇÏd
hB*Ç äèdÇ q WLO be UbMè .(à) ÉdI WFU Ç
vK (WFU Ç ÉÏU*Ç s (Ì) ÉdIHÇ v Ïb;Ç uMÇ vK) nOUJÇ
lÑ v UÏÇÏd
Ç le*Çè ÏÇÏd
WKUIÇ WOKFHÇ ÊUIHMÇè nOUJÇ
¬(´) (±) (Ã) WFU Ç ÉÏULK Uë I qd b U pÐ v U0 ãÇÐ WM Ç
r I nOUJÇ ÏÇÏd
hB*Ç äèdÇ v ÉÏUeÇ pK WLO æS
åU Ç" (È) ÉdIHU çUÏÃ ÉÑuc*Ç V MK Uë Iè äèUI*Çè WONÇ 5
hB*Ç äèdÇ v ÉÏUeÇ pK WLO WONK äèUI*Ç lbè "ÌUÇ
ë (±) UÅ nOUJÇ ÏÇÏd

v UNOK ÕuBM*Ç WIdDU pÐè ÇbI
‫صورة إ‬
Uë MO (²) UÅ è "à" oK*Ç v ÏÑÇuÇ v
U;Ç åUEMÇ s WFÇdÇ ÉÏU*Ç
.(³) (Ã) WFU Ç ÉÏULK Uë Iè
ÑU æÃ WONK o Uë u (¹°) 5F WO1uI WM
q Áb q (³) ‫لك‬
‫تروني‬
WzU v UNOB ÏÇb
VKD æÃ ¬äèUILK tK
d vU ÑUD Å Vu0
nOUJÇ ÏÇÏd
hB*Ç äèdÇ izU s (¥±°°) WzU*Ç v
‫ة ال يع‬
dbBÇ WDI "Èu" WIDM*Ç s åU)Ç XeU æuJ ÏÇb Ç Çcè .Uë MO
XeÇ WOL be Ã ×dA UNOK oH éd Ã rOK WDI éÃ èÃ
åU)Ç XeÇ WLO vK WM
lÑ éÃ v Uë MO WONÇ çc Q écÇ åU)Ç
‫تد بها‬
äèUI*Ç tO ádB écÇè ë F Ðu Q*Ç nOUJÇ ÏÇÏd

hB*Ç
âUI
Ç æU ÇÐÅè ¬oU Ç WM Ç lÑ ä WIDM*Ç s ÉÏdHM WHB
‫عند ا‬
hB*Ç äèdÇ izU s Uë MO UNOB ÏÇb

v{UI v WONÇ
ë
‫ل‬
Çc s vUÇ æS ¬çdÐ oU Ç ×dAU ÇbOI nOUJÇ ÏÇÏd

‫تداول‬
ë lb âUI
Ç
.ÇbI
·¹ ²°²² WM
dÇ Ébd'Ç
(2) Except as provided in Article VII (a) (3) and Article VII (e) (1),
CONTRACTOR shall each quarter be entitled to take and own all
Cost Recovery Petroleum, which shall be taken and disposed of in
the manner determined pursuant to Article VII (e). To the extent
that the value of all Cost Recovery Petroleum [as determined
in Article VII (c)] exceeds the actual recoverable costs and
expenditures, including any carry forward under Article VII (a)
(1) (iv), to be recovered in that quarter, then the value of Excess
Cost Recovery Petroleum shall be shared between EGPC and
CONTRACTOR in accordance with the percentages mentioned
below in paragraph (b) "Production Sharing", the value of such
Excess Cost Recovery Petroleum shall be paid by CONTRACTOR
to EGPC either (i) in cash in the manner set forth in Article IV of
the Accounting Procedure contained in Annex "E" or (ii) in kind
‫صورة إ‬
in accordance with Article VII (a) (3).
(3) Ninety (90) days prior to the commencement of each Calendar
‫لك‬
Year EGPC shall be entitled to elect by notice in writing to
‫تروني‬
CONTRACTOR to require payment of up to one hundred percent
(100%) of EGPC's share of Excess Cost Recovery Petroleum in
kind. Such payment will be in Crude Oil from the Area F.O.B.
‫ة ال يع‬
export terminal or other agreed delivery point provided that the

amount of Crude Oil taken by EGPC in kind in a quarter shall not
‫تد بها‬
exceed the value of Cost Recovery Crude Oil actually taken and
separately disposed of by CONTRACTOR from the Area during
‫عند ا‬
the previous quarter. If EGPC's entitlement to receive payment of

its share of Excess Cost Recovery Petroleum in kind is limited by
the foregoing provision, the balance of such entitlement shall be
‫ل‬
‫تداول‬
paid in cash.
²°²² WM
dÇ Ébd'Ç ¸°
:ΝΎΗϧϹ΍ ϡΎγΗϗ΍ (Ώ)

dF Uë I äèUI*Çè WONÇ 5 r I äèdÇ s WOI*Ç (¥¶°) WzU*U æu Ç (±)
: WOUÇ WB Uë Ièè Xd åU
.(à) ÉdIHÇ WFU Ç ÉÏULK Uë I UNO ádBÇ rè WB_Ç pK c R
: ϡΎΧϟ΍ Εϳίϟ΍ -˺
ΔϳϟϭέΗΑϟ΍ ΕΎϳϠϣόϟ΍ ϰϓ ϡΩΧΗγϳ ϡϟ ϯΫϟ΍ϭ ΔϳϗΎϔΗϻ΍ ϩΫϫ ϰοΗϘϣΑ ϪΑ υϔΗΣϣϟ΍ϭ ΞΗϧϣϟ΍ ϡΎΧϟ΍ Εϳίϟ΍
(ϱ/Ώ) ϡϭϳ ϝϛϟ Εϳί ϝϳϣέΑ
˺˾̄˹˹˹ ϥϣέΛϛ΃ ˺˹̄˹˹˹ ϥϣέΛϛ΃ ˾̄˹˹˹ ϥϣέΛϛ΃

ϭ΃ ϥϋ ϝϘϳ ΕϧέΑ ϡΎΧ έόγ
ϯ/Ώ ˻˾̄˹˹˹ ϝϘϳϭ ϯ/Ώ ϝϘϳϭ ϯ/Ώ ϭ΃ ϥϋ ϝϘϳϭ ϯ/Ώ
˾̄˹˹˹ ϯϭΎγϳ ϝϳϣέΑ/ϲϛϳέϣ΃έϻϭΩ
έΛϛ΄ϓ ϯϭΎγϳ ϭ΃ ϥϋ ϯϭΎγϳ ϭ΃ ϥϋ ˺˹̄˹˹˹ ϯϭΎγϳ
ϱ/Ώ
ϱ/Ώ˻˾̄˹˹˹ ϱ/Ώ˺˾̄˹˹˹ ϱ/Ώ
Ώϳλϧ Ώϳλϧ Ώϳλϧ Ώϳλϧ Ώϳλϧ Ώϳλϧ Ώϳλϧ Ώϳλϧ Ώϳλϧ Ώϳλϧ
ϝϭΎϘϣϟ΍ Δ΋ϳϬϟ΍ ϝϭΎϘϣϟ΍ Δ΋ϳϬϟ΍ ϝϭΎϘϣϟ΍ Δ΋ϳϬϟ΍ ϝϭΎϘϣϟ΍ Δ΋ϳϬϟ΍ ϝϭΎϘϣϟ΍ Δ΋ϳϬϟ΍
̃-- ̃-- ̃-- ̃-- ̃-- ̃-- ̃-- ̃-- ̃-- ̃--
‫صورة إ‬
éèU èÃ s qÃ
¥³¶ ¥¶´ ¥³· ¥¶³ ¥³· ¥¶³ ¥³¹ ¥¶± ¥³¹ ¥¶±
vJdÃ ÑèÏ ´°
ÑèÏ ´° s dÃ
¥³µ ¥¶µ ¥³¶ ¥¶´ ¥³¶ ¥¶´ ¥³¸ ¥¶² ¥³¸ ¥¶²
‫لك‬ s qÃè vJdÃ
‫تروني‬
ÑèÏ ¶° éèU èÃ
vJdÃ
‫ة ال يع‬
ÑèÏ ¶° s dÃ
s qÃè vJdÃ
¥³´ ¥¶¶ ¥³µ ¥¶µ ¥³µ ¥¶µ ¥³· ¥¶³ ¥³· ¥¶³
ÑèÏ ¸° éèU èÃ
‫تد بها‬
wJdÃ
ÑèÏ ¸° s dÃ
s qÃè vJdÃ
‫عند ا‬
¥³³ ¥¶· ¥³´ ¥¶¶ ¥³´ ¥¶¶ ¥³¶ ¥¶´ ¥³¶ ¥¶´
±°° éèU èÃ
wJdÃ ÑèÏ
‫ل‬
vJdÃ ÑèÏ ±°°

‫تداول‬
¥³² ¥¶¸ ¥³³ ¥¶· ¥³³ ¥¶· ¥³µ ¥¶µ ¥³µ ¥¶µ
dQ
¸± ²°²² WM
dÇ Ébd'Ç
(b) Production Sharing:

(1) The remaining sixty percent (60%) of Petroleum shall be divided
between EGPC and CONTRACTOR based on Brent price and
according to the following shares:
Such shares shall be taken and disposed of pursuant to Article VII (e).
(i) Crude Oil:
Crude Oil produced and saved under this Agreement and not used in Petroleum
operations, Barrel of Oil Per Day (BOPD)
Brent
More than More than More than
Price Less than or 5,000 BOPD 10,000 BOPD 15,000 BOPD
More than
US$/bbl equal to 5,000 and less than and less than and less than
25,000 BOPD
BOPD or equal to or equal to or equal to
10,000 BOPD 15,000 BOPD 25,000 BOPD
EGPC Cont. EGPC Cont. EGPC Cont. EGPC Cont. EGPC Cont.
% % % % % % % % % %
Less than
or equal to 61% 39% 61% 39% 63% 37% 63% 37% 64% 36%
40 US$
More than
‫صورة إ‬
40 US$
and less
62% 38% 62% 38% 64% 36% 64% 36% 65% 35%
than or
equal to
60 US$ ‫لك‬
‫تروني‬
More than
60 US$
and less
63% 37% 63% 37% 65% 35% 65% 35% 66% 34%
‫ة ال يع‬
than or
equal to
80 US$
‫تد بها‬
More than
80 US$
and less
64% 36% 64% 36% 66% 34% 66% 34% 67% 33%
than or
‫عند ا‬
equal to
100 US$
More than
‫ل‬
65% 35% 65% 35% 67% 33% 67% 33% 68% 32%
‫تداول‬
100 US$
²°²² WM
dÇ Ébd'Ç ¸²
: "LPG"ϝΎγϣϟ΍ ϝϭέΗΑϟ΍ ίΎϏϭ ίΎϐϟ΍ -˻
åb dOGÇè WOUHÇ çc Vu0 t kH;Çè ZM*Ç äU *Ç äèdÇ ÒUè ÒUGÇ
5 r I ((SCFD) åu/ÒUGÇ s v
UO VFJ åb) WOèdÇ ÊUOKLFÇ v
.äèUI*Çè WONÇ
ϝϭΎϘϣϟ΍ Ώϳλϧ Δ΋ϳϬϟ΍ Ώϳλϧ
̃-- ̃--
¥³¹ ¥¶± åu/ v

UO VFJ åb æuOK ²µ s qÃ
s qÃè åu/ v
UO VFJ åb æuOK ²µ éèU
¥³¸ ¥¶²
åu/ v
UO VFJ åb æuOK µ°
s qÃè åu/ v
UO VFJ åb æuOK µ° éèU
¥³· ¥¶³
åu/ v
UO VFJ åb æuOK ±°°
‫صورة إ‬
s qÃè åu/ v
UO VFJ åb æuOK ±°° éèU
¥³¶ ¥¶´
åu/ v
UO VFJ åb æuOK ±²µ
¥³µ ¥¶µ dQ åu/ v

UO VFJ åb æuOK ±²µ éèU
‫لك‬
‫تروني‬
ÉdI WFU Ç ÉÏULK Uë Iè åd ÒU lO bI éÃ Éb ÁUMÃ v WbUF WM
q WUN bF (²)
(dA UNHB) ÓUààààÅ èÃ WONÇ vÅ (5FzU ULNHB) äèUI*Çè WONÇ åbI ¬(à)
‫ة ال يع‬
vÇ ÒUGÇ WOL UÑÇbI0 XBI vÇ WOLJK WèU ¬bè æÅ ¬ÒUGÇ s WOLJ Uë UO
s (¥·µ) WzU*Ç v 5F
è W L s (dA UNHB) ÓUÅ èÃ WONÇ UNLK
‫تد بها‬
×dA ¬(hIMÇ) éÑU Ç ÒUGÇ lO bI çÑdI U* Uë I UNOK bUF*Ç ÒUGÇ ÊUOL
(¶°) 5
ä ¬(dA UNHB) ÓUÅ èÃ WONÇ lbè ¬Çdu ë ÒUGÇ æuJ æÃ
‫عند ا‬
æÅ ¬hIMÇ WLO (5FzU ULNHB) äèUI*Çè WONÇ vÅ ¬æUOÇ pÐ UN
Ç s Uë u
¬(Ã) 5dIHÇ Vu0 ÒUGÇ s äèUI*Çè WONÇ ÊUI v hIMÇ Çc ÌÑbè .bè
‫ل‬
‫تداول‬
.ÉÑuc*Ç WbUFÇ WM Ç s (´) lÇdÇ WM Ç lÑ v pÐè ¬WFU Ç ÉÏU*Ç s (È)

¸³ ²°²² WM
dÇ Ébd'Ç
(ii) Gas &LPG :

Gas and LPG produced and saved under this Agreement and not
used in Petroleum operations (Standard Cubic Feet of Gas Per Day
(SCFD)) divided between EGPC and CONTRACTOR.
EGPC CONTRACTOR
% %
Less than 25 MMSCF/Day 61% 39%
Equal to 25 and less than 50 MMSCF/Day 62% 38%
Equal 125 MMSCF/Day and above 65% 35%
‫صورة إ‬
(2) After the end of each contractual year during the term of any Gas
Sales Agreement entered into pursuant to Article VII (e), EGPC and
CONTRACTOR (as sellers) shall render to EGPC or EGAS (as
‫لك‬
‫تروني‬
buyer) a statement for an amount of Gas, if any, equal to the amount
by which the quantity of Gas of which EGPC or EGAS (as buyer)
‫ة ال يع‬
has taken delivery falls below seventy ve percent (75%) of the
Contract quantities of Gas as established by the applicable Gas Sales
Agreement (the "Shortfall"), provided the Gas is available. Within
‫تد بها‬
sixty (60) days of receipt of the statement, EGPC or EGAS (as buyer)
shall pay EGPC and CONTRACTOR (as sellers) for the amount of
‫عند ا‬
the Shortfall, if any. The Shortfall shall be included in EGPC's and

CONTRACTOR's entitlement to Gas pursuant to Article VII (a) and
‫ل‬
‫تداول‬
Article VII (b) in the fourth (4th) quarter of such contractual year.
²°²² WM
dÇ Ébd'Ç ¸´
ÇcN qI ÈU v ¬UN qUI lb U/Åè Uc Ã r vÇ ¬ÒUGÇ ÊUOL q è
r écÇ ("wCuFÇ ÒUGÇ") ÒUGÇ ÊUOL q è "lbÇ èÃ c _Ç ÈU " ÖdGÇ
s (¥·µ) WzU*Ç v 5F Çè W L)Ç W vK ÉÏUeU WOUÇ ÊÇuM Ç v tLOK
ÊUOL sd q ¬êÑU Ç ÒUGÇ lO bI çÑdI U V UNOK bUF*Ç ÒUGÇ ÊUOL
mU ãUM æuJ è ¬ÑÇbI*Ç fHM UNCHè "lbÇ èÃ c _Ç" ÈU v ÉbOI*Ç ÒUGÇ
sL{ vCuFÇ ÒUGÇ Çc ÌÑb è ¬ÑÇbI*Ç Çc vÅ ÒUGÇ Çc ÕuB lbÇ WI
æuJ è WFU Ç ÉÏU*Ç s (È) è (Ã) 5dIHÇ Vu0 ÒUGÇ s äèUI*Ç ÊUI
.wCuFÇ ÒUGÇ Çc v âuI äèUILK
rOK v (5FzU ULNHB) äèUI*Çè WONÇ XIH Ã ÇÐÅ ¬WbUF WM
éÃ WUN v
v WdF*Çè UNOK bUF*Ç WuM Ç ÒUGÇ WOL s (¥·µ) WzU*Ç v 5F
è W L
W L)Ç 5 âdHÇ æS (dA UNHB) ÓUÅ èÃ WONÇ l ÒUàààGÇ ÊUFO WOUHÇ
WOKFHÇ ÒUGÇ WOLè UNOK bUF*Ç WuM Ç ÒUGÇ WOL s (¥·µ) WzU*Ç v 5F Çè
‫صورة إ‬
UNHB) ÓUÅ èÃ WONK oè ."lbÇ èÃ rOK Ç ÑuB ÒUG" UNOÅ ÑUAè WLK *Ç
äÏUF dF rOI WOLJÇ çcè lbÇ èÃ rOK Ç ÑuB ÒUG WèU WOL c Ã (dA
‫لك‬
bb% rO
è .ÒUGÇ ÊUFO WOUHÇ v ádF*Ç ÒUGÇ dF
s (¥¹°) WzU*Ç v 5F
‫تروني‬
.ÒUGÇ ÊUFO WOUHÇ v lbÇ èÃ å
Ç åuNH WOÂ
WMO*Ç Wu*Ç V MÇ rOK K du*Ç tKàà (LPG) äU *Ç äèdÇ ÒU vK oDè
‫ة ال يع‬
(LPG) äU *Ç äèdÇ ÒU ÕuB ¬WFU Ç ÉÏU*Ç s (È) ÉdIHÇè (Ã) ÉdIHÇ v
.ULNM WUO èÃ äèUI*Çè WONÇ WdF0 tKOGA -è TAÃï b æuJ qLF éÃ s ZM*Ç
‫تد بها‬
: ϝϭέΗΑϟ΍ ϡϳϳϘΗ (Ν)

:ϡΎΧϟ΍ Εϳίϟ΍ (˺)
‫عند ا‬
vCI0 äèUI*Ç tI écÇ nOUJÇ ÏÇÏd

hB*Ç åU)Ç XeÇ - ±
‫ل‬
lÑ q s"âu Ç dF
"à äèUI*Çè WONÇ WdF0 tLOOI 5F WOUHÇ çc
‫تداول‬
.WO1uI WM
¸µ ²°²² WM
dÇ Ébd'Ç
Quantities of Gas not taken but to be paid for shall be recorded in

a separate "Take-or-Pay Account". Quantities of Gas ("Make Up
Gas") which are delivered in subsequent years in excess of seventy
ve percent (75%) of the contract quantities of Gas as established by
the applicable Gas Sales Agreement, shall be set against and reduce
quantities of Gas in the "Take-or-Pay" account to the extent thereof
and, to that extent, no payment shall be due in respect of such Gas. Such
Make Up Gas shall not be included in CONTRACTOR's entitlement
to Gas pursuant to Article VII (a) and (b). CONTRACTOR shall have
no rights to such Make Up Gas.
If at the end of any Contractual year, EGPC and CONTRACTOR (as
sellers) fail to deliver seventy ve percent (75%) of the annual contract
quantity of Gas as dened in the Gas Sales Agreement with EGPC or
EGAS (as buyer), the difference between seventy ve percent (75%)
of the annual Contract quantity of Gas and the actual Gas quantity
‫صورة إ‬
delivered shall be referred to as the "Deliver- or - Pay Shortfall Gas".
EGPC or EGAS (as buyer) shall have the right to take a quantity of
Gas equal to Deliver-or-Pay the Shortfall Gas and such quantity of
‫لك‬
Gas shall be priced at ninety percent (90%) of the Gas price as dened
‫تروني‬
in the Gas Sales Agreement .The mechanism for the Deliver-or-Pay
concept will be determined in the Gas Sales Agreement .
‫ة ال يع‬
The percentages set forth in Article VII (a) and (b) in respect of LPG
produced from a plant constructed and operated by or on behalf of
EGPC and CONTRACTOR shall apply to all LPG available for
‫تد بها‬
delivery.
(c) Valuation of Petroleum:
‫عند ا‬
(1) Crude Oil:

(i) The Cost Recovery Crude Oil to which CONTRACTOR
‫ل‬
is entitled hereunder shall be valued by EGPC and

‫تداول‬
CONTRACTOR at "Market Price" for each calendar quarter.

²°²² WM
dÇ Ébd'Ç ¸¶
s WM Ç lÑ ä WII;Ç ÑUF

`d*Ç j
u*Ç u "âu Ç dF " ÏuBI*Ç - ²
Wb *Ç ÊUFO*Ç æuJ æÃ WDd vKÃ ULNÃ äèUI*Ç èÃ WONÇ ÊUFO
WFU dO ÊUd vÅ ÊUFO* Wd*Ç ÊUD
u*Ç èÃ j
u*Ç vÅ ë uè
dO ÊUIHB d(Ç quK WKU WKLF WÑUI lÏ ×èdA WÑUI ÊUOLJ
ÏuI WUJ Uë I pÐè dbBÇ WDI v (Èu) WKUMÇ dN rOK ¬ÉÒUM
åU)Ç XeÇ lO ÏuI ÏUF
Ç l sJè ¬cMO
í äuFH*Ç WÑU Ç åU)Ç XeÇ lO
è ¬WCUI vK éuDM vÇ
éÃ vÅ äèUI*Ç èÃ WONÇ s ÉdU dO èÃ ÉdU WHB r vÇ ÊUFO*Ç (±
.t èÃ jO
è od s pÐ æUÃ ÁÇu
WFU Wd
d(Ç quK WKU WKLF lbÇ á qUI vK éuDM vÇ ÊUFO*Ç (²
eÇu(Ç á ÊÇÑUÇ WOze èÃ WOK WHB UNO YUÇ æuJ vÇ èÃ
.eOÇ s WOU)Ç WÑUÇ åU)Ç XeÇ ÙuO v ÉÏUF*Ç WÏUBÇ
‫صورة إ‬
qUI WÒÇ ÊUCOHÇ éd& "nO
" ÙuOÇ WU v tÃ åuNH*Ç s - ³
vKè ¬dbBÇ WDI v "Èu" dF Ç ÈU ( ë u 5QÇè qIMÇ nOUJ
‫لك‬
åU)Ç XeÇ ÙuM W MU V
UM*Ç qbFÇ ÁÇdÅ ÑUÇ v Uë LzÇÏ c R æÃ
‫تروني‬
éd Ã ÊbF s pÐ dOè sAÇ ÁUMO0 WU)Ç æuuMÇ ÆèU èÃ UÇeè
XÒ jOK èÃ åU XÒ qJ W MU Éb vK "âu Ç dF
" Ïbè W
UM
‫ة ال يع‬
.s ÁUMO qJ W MUè åU

WONÇ VU s WO1uI WM
lÑ éÃ ä ÊUFO*Ç çc q r r ÇÐÅ - ´
‫تد بها‬
WONÇ vK 5F tS ¬WÑU Ç åU)Ç XeÇ lO ÏuI Vu0 ULNÃ èÃ äèUI*Çè
écÇ åU)Ç XeÇ s qOdK W MU "âu Ç dF
" vK Uë F UIH æÃ äèUI*Çè
‫عند ا‬
W
UM*Ç WÏ_Ç lOL ÏUd
Ç ULNOKè ¬ãÇÐ WM Ç lÑ s tULF
Ç 5F
ÊueK W MU d(Ç quK WKU WKLF WÑU'Ç ÑUF
_Ç pÐ v U0 WU*Çè
‫ل‬
‫تداول‬
vdFÇ ZOK)Ç v) äèdK WM*Ç æÇbKÇ éd UNM vÇ WO OzdÇ åU)Ç
¸· ²°²² WM
dÇ Ébd'Ç
(ii) "Market Price" shall mean the weighted average prices realized
from sales by EGPC or CONTRACTOR during the quarter,
whichever is higher, provided that the sales to be used in arriving
at the weighted average(s) shall be sales of comparable quantities
on comparable credit terms in freely convertible currency from
F.O.B. point of export sales to non-afliated companies at arm’s
length under all Crude Oil sales contracts then in effect, but
excluding Crude Oil sales contracts involving barter, and
(1) Sales, whether direct or indirect, through brokers or
otherwise, of EGPC or CONTRACTOR to any Afliated
Company.
(2) Sales involving a quid pro quo other than payment in a
freely convertible currency or motivated in whole or in part
by considerations other than the usual economic incentives
for commercial arm's length Crude Oil sales.
‫صورة إ‬
(iii) It is understood that in the case of "C.I.F." sales, appropriate
deductions shall be made for transport and insurance charges
to calculate the F.O.B. point of export price; and always taking
‫لك‬
into account the appropriate adjustment for quality of Crude
‫تروني‬
Oil, freight advantage or disadvantage of port of loading and
other appropriate adjustments. Market Price shall be determined
‫ة ال يع‬
separately for each Crude Oil or Crude Oil mix, and for each port
of loading.
(iv) If during any calendar quarter, there are no such sales by EGPC
‫تد بها‬
and/or CONTRACTOR under the Crude Oil sales contracts in

effect, EGPC and CONTRACTOR shall mutually agree upon
the Market Price of the barrel of Crude Oil to be used for such
‫عند ا‬
quarter, and shall be guided by all relevant and available evidence

including current prices in freely convertible currency of leading
‫ل‬
Crude Oils produced by major Oil producing countries (in the

‫تداول‬
Arabian Gulf or the Mediterranean Area), which are regularly

²°²² WM
dÇ Ébd'Ç ¸¸
Uë I WuH*Ç âÇu
_Ç v WLEM WHB ÙU vÇ (j
u*Ç dÇ WIDM0 èÃ
U*U lOU buÇè WOÑuÇ ÊUFO*Ç ÏUF
Ç l sJ ¬WOKF lO ÏuIF
åUJÃ oèè ×èdA X9 b ÊUFO*Ç çc æuJ YOè .åU XÒ rOK r
XeÇ UN lO vÇ pK s ÇdOë Uë Ç nK (dF Ç ÁUM
U)
W
UM*Ç ÊbFÇ ÁÇdÅ Uë LzÇÏ vÇd æÃ vKè ¬tLO dbI ÈuKD*Ç åU)Ç
dOè sAÇ ÁUMO0 WU)Ç æuuMÇ ÆèU èÃ UÇe è åU)Ç XeÇ ÉÏu' UF
WUJÇ WÑÏ v âèdHK Uë F ¬äÇu_Ç V ¬W
UM*Ç ÊbFÇ s pÐ
5FzUÇ 5 WU UNOK áÑUF*Ç qÇuàààààFÇ s pÐ dOè XdJÇ W è
Éb* qIMU WU)Ç 5QÇ ×U Ãè ¬åU)Ç ÑUF
Ã vK dR vÇè sdA*Çè
çc éd& UL ¬lzUÇ UNKL vÇ ÉÏUF*Ç dO åu
dÇè ¬Uë u (¹°) 5F
¬Uë u (¶°) 5
vK be Éb* lÏ ×èdA ÊUFO*Ç sL vK ÊbFÇ
ÓU
Ã vK 5FzUÇ ÙB åbI vÇ ÊUULCÇ èÃ ÖèdIÇ nOUJ vKè
.ÉbzU Ç ÉbzUHÇ ÑUF
Ã
‫صورة إ‬
ÏÇÏd
hB*Ç åU)Ç XeÇ WLO fJF æÃ vK áÇd _Ç WO ÊbIFÇ bè
.åU)Ç XeÇ Çc q* âu Ç v bzU Ç dF Ç nOUJÇ
‫لك‬
vCI0 Ïb;Ç uMÇ vK "âu Ç dF
" æÃ äèUI*Ç èÃ WONÇ s éÃ ÊÃÑ ÇÐÅ - µ
‫تروني‬
UIH Ã ÇÐÅ U WU v èÃ bzU Ç âu Ç dF
fJF çÃ (²) WOdHÇ ÉdIHÇ
‫ة ال يع‬
WOUHÇ çc Vu0 ZM åU XÒ é_ W MU "âu Ç dF
" vK âUHÇ v
WM Ç lÑ WUN bF Uë u (±µ) dA W L ä v pÐè ¬WM
lÑ éÃ s
äÇR U åbI æÃ pÐ bF Xè éÃ v ÑU æÃ ád é_ Òu tS ¬ãÇÐ
‫تد بها‬
v q1 écÇ åU)Ç XeÇ pÐ s qOdK Ïb;Ç dF Ç s bÇè rJ vÅ
rJ;Ç vKè ¬wMF*Ç WM Ç ld W MU âu Ç dF qO9 âbÃ ¬rJ;Ç éÃÑ
‫عند ا‬
æuJè ¬Ñuc*Ç WM Ç lÑ VI sJ2 Xè Ùd

Ã v Ùu{u*Ç Çc v X æÃ
WIdDU rJ;Ç ÑUO Ç rè ¬áÇd _Ç lOL' Uë eKè Uë OzUN rJ;Ç pÐ ÑÇd
‫ل‬
‫تداول‬
.çUÏÃ WMO*Ç
¸¹ ²°²² WM
dÇ Ébd'Ç
sold in the open market according to actual sales contracts terms

but excluding paper sales and sales promises where no Crude
Oil is delivered, to the extent that such sales are effected under
such terms and conditions (excluding the price) not signicantly
different from those under which the Crude Oil to be valued,
was sold, and always taking into consideration appropriate
adjustments for Crude Oil quality, freight advantage or
disadvantage of port of loading and other appropriate adjustments,
as the case may be, for differences in gravity, sulphur, and
other factors generally recognized by sellers and purchasers, as
reected in Crude prices, transportation ninety (90) days insurance
premiums, unusual fees borne by the seller, and for credit terms
in excess of sixty (60) days, and the cost of loans or guarantees
granted for the benet of the sellers at prevailing interest rates.
It is the intent of the Parties that the value of the Cost Recovery
‫صورة إ‬
Crude Oil shall reect the prevailing market price for such Crude
Oil.
(v) If either EGPC or CONTRACTOR considers that the Market‫لك‬
‫تروني‬
Price as determined under sub-paragraph (ii) above does not
reect the prevailing Market Price or in the event EGPC and
‫ة ال يع‬
CONTRACTOR fail to agree on Market Price for any Crude Oil
produced under this Agreement for any quarter within fteen (15)
days after the end thereof, any party may elect at any time
‫تد بها‬
thereafter to submit to a single arbitrator the question, what single

price per Barrel, in the arbitrator's judgment, best represents for the
pertinent quarter the Market Price for the Crude Oil in question.
‫عند ا‬
The arbitrator shall make his determination as soon as possible

following the quarter in question. His determination shall be nal
‫ل‬
‫تداول‬
and binding upon all the parties. The arbitrator shall be selected
in the manner described below.
²°²² WM
dÇ Ébd'Ç ¹°
Uë u (³°) 5 ä v rJ;Ç vK âUHÇ v äèUI*Çè WONÇ XIH Ã ÇÐÅ
âu Ç dF
bb% WUÅ Ñd b tQ d Ç ádDÇ ád éÃ ÑUD Å aÑU s
ÉÏULK Uë Iè ÉÏb;Ç WMOF*Ç WONÇ WdF0 rJ;Ç pÐ ÑUO Ç r tS rJ;Ç vÅ
vK Éd)Ç pK UNb du éd Ã WMOF WO éÃ WdF0 èÃ (à) sdAFÇè WFÇdÇ
5LJ;Ç ÊUO ÑUÇ v c _Ç l ¬äèUI*Çè WONÇ tOK oH U u
¬äèUI*Ç èÃ WONÇ s éÃ t åbI vU VK vK ÁUM
ë pÐè ¬bF ULO WMO*Ç
ádDÇ vÅ 5dDÇ s éÃ s åbI*Ç VKDÇ s ÉÑu äU
ÑÅ 5Fè ¬ULNOK èÃ
.ÑuHÇ vK d _Ç
WUM dzÇèÏ v WOUFÇ WFL Ç éèÐ s æUJÇ ÑbI ¬rJ;Ç æuJ æÃ Vè
è .WOèbÇ ÉÑUÇ v åU)Ç XeÇ ou è dOF v dO WO*UFÇ äèdÇ
s q l WO
UuKÏ ÊU UN X O WèÏ UUÑ s rJ;Ç æuJ æÃ Òu
èÃ Uë b ÑUO Ç Xè æuJ æÃ Òu UL ¬äèUI*Ç WO Mè .Ù.å.Ì
‫صورة إ‬
ë
WLEM0 èÃ vJd_Ç äèdÇ bNF0 ¬ÉÑdJ èÃ ÉdL WHB ÇÑUA èÃ Uë LJ
ë
ÇÑUA èÃ ¬äèdK ÉÑbB*Ç WOdFÇ äèbÇ WLEM0 èÃ äèdK ÉÑbB*Ç äèbÇ
‫لك‬
UÃ .ULNM é_ WFUÇ ÊUdAÇ éb èÃ äèUILK èÃ ¬WONK ÉdL WHB
‫تروني‬
ÊUd s UdOG èÃ ÊUdAÇ çcN v{U*Ç v X9 vÇ W{ÑUFÇ ÊÇÑUA
Ç
è .çÏUF
Uë
dF çcN ¬WOuJ(Ç ÊUONÇ èÃ ÊUuK èÃ ¬äèdÇ
‫ة ال يع‬
(²) 5M Ç ä ÊUè_Ç s Xè éÃ v qG b rJ;Ç æuJ æÃ Òu

WUè WÃ èÃ äèdÇ ÊUd s éQ nzUuÇ ébÅ çÑUO Ç vK 5IU Ç
‫تد بها‬
.WOuJ WO èÃ WOuJ

åb WU v èÃ ¬rJ;Ç qLF åUOIÇ s çÑUO Ç - h åUÅ WU vè
‫عند ا‬
ÑÇdIÇ ÐUÇ q rJ;Ç VBM ÇÐÅ èÃ ¬qLFÇ pc åUOIÇ vK tÑb
çc v UNOK ÕuBM*Ç WIdDÇ fHM d Â h ÑUO Ç r tS ¬ÈuKD*Ç
‫ل‬
‫تداول‬
ë
.rJ;Ç ÊUèdB WHUM äèUI*Çè WONÇ qLè ¬ÉdIHÇ
¹± ²°²² WM
dÇ Ébd'Ç
In the event EGPC and CONTRACTOR fail to agree on the

arbitrator within thirty (30) days from the date any party
noties the other that it has decided to submit the determination
of the Market Price to an arbitrator, such arbitrator shall be
chosen by the appointing authority designated in accordance
with Article XXIV (e), or such other appointing authority with
access to such expertise as may be agreed to between EGPC and
CONTRACTOR, with regard to the qualications for arbitrators
set forth below, upon written application of one or both of EGPC
and CONTRACTOR. Copy of such application by one of them
shall be promptly sent to the other.
The arbitrator shall be as nearly as possible a person with an
established reputation in the international Petroleum industry
as an expert in pricing and marketing Crude Oil in international
commerce. The arbitrator shall not be a citizen of a country
which does not have diplomatic relations with both the A.R.E.
‫صورة إ‬
and CONTRACTOR's nationality. He may not be, at the time
of selection, employed by, or an arbitrator or consultant on a
continuing or frequent basis to, the American Petroleum Institute,
‫لك‬
the Organization of the Petroleum Exporting Countries or
the Organization of Arab Petroleum Exporting Countries, or a
‫تروني‬
consultant on a continuing basis to EGPC, CONTRACTOR or
an Afliated Company of either, but past occasional consultation
‫ة ال يع‬
with such companies, with other petroleum companies,
governmental agencies or organizations shall not be a ground
for disqualication. He may not have been, at any time during
‫تد بها‬
the two (2) years before selection, an employee of any Petroleum

company or of any governmental agency or organization.
Should a selected person decline or be unable to serve as arbitrator
‫عند ا‬
or should the position of arbitrator fall vacant prior to the decision

called for, another person shall be chosen in the same manner
‫ل‬
provided in this paragraph. EGPC and CONTRACTOR shall

‫تداول‬
share equally the expenses of the arbitrator.

²°²² WM
dÇ Ébd'Ç ¹²
WÏ_Ç qCÇ ÓU
Ã vK ÉdIHÇ çc åUJ_ Uë Iè çÑÇd ÐUU rJ;Ç åuIè
WU)Ç ÊUuKF*Çè ÊUUOÇ s UdOè XeÇ lO ÏuI WFÇd0 åuIè .t WU*Ç
èÃ ÏuI WÃ WLz èÃ WO éb dbI v Wd(Ç t æuJ æÃ vK¬ÊUFO*U
l ÑèUAÇ v o(Ç äèUI*Çè WONÇ s q vKL* æuJè .ÊUuKF èÃ ÊUUO
ë
ÇÏuO ÖdH æÃ rJLK Òu tÃ vK ¬WuJ ÊUUO t ÇubI æÃè rJ;Ç
Ïèb vBÃ vÅ rJ;Ç l äèUI*Çè WONÇ s q æèUFè ¬o(Ç Çc vK WuIF
rJLK `L è .tF WÑUÇ UNUd æèUF ULNM q qHJ UL ¬æèUFÇ
vÇ UN WIKF*Ç ÊUuKF*Çè ÊUUOÇ Çc è åU)Ç XeÇ lO ÏuI vK Ù U
b UNÃ rJ;Ç éd vÇè UdOu WÑUÇ ULNUd èÃ äèUI*Çè WONK sJ1
.rOK
ÑÇd ÐUÇ vK çbU
vMF*Ç WM Ç ld oU Ç WM Ç lÑ s tOK oH*Ç âu Ç dF
æUd
dL è - ¶
‫صورة إ‬
ddI 5( èÃ äèUI*Çè WONÇ 5 "âu Ç dF
" vK âUHÇ 5 vÅ WR WHB
ÉÑU äèUI*Ç èÃ WONÇ s éÃ XKL% ÇÐÅ U WU vè .rJ;Ç WdF0 dF Ç pÐ
¬oU Ç WM Ç ld ÕU)Ç "âu Ç dF
"à ¬WR WHB ¬qLFÇ ÑÇdL
Ç WO
‫لك‬
‫تروني‬
ë ÉÑU )Ç pK Ñb ÏÇÏd
Ç r tS
vK WDO ÉbzU ld Ç ádDÇ s ÇÑu
uMÇ vK Uë uM
(¥²[µ) WzU*Ç v nBè 5MÇ tOÅ Uë UC ÑuO dF
ÓU
Ã
‫ة ال يع‬
mK*Ç ÏÇb
tO o æU écÇ aÑUÇ s pÐè ¬(è) WFÇdÇ ÉÏU*Ç v Ïb;Ç
.ÏÇb Ç aÑU v UNOK ÙÒUM*Ç mU*Ç èÃ
‫تد بها‬
:(LPG) ϝΎγϣϟ΍ ϝϭέΗΑϟ΍ ίΎϏϭ ίΎϐϟ΍ (˻)

ÏÇÏd
hB*Ç ÒUGÇ dF
vK äèUI*Çè ÓUÅ èÃ WONÇ 5 âUHÇ r -±
‫عند ا‬
vK;Ç âu K tu*Ç ¬bè æÅ ¬ÏÇÏd

Ç izU ÒUè ¬ÌUÇ åU Çè nOUJÇ
ÒU dF
UÃ .WOLM (ÏuI) bI vÅ WIDM*Ç qu% qè éÑUÇ áUAÇ bF
‫ل‬
‫تداول‬
.ë F oI;Ç dF U æuJ áu

çdbB lu*Ç ÌUÇ åU Ç
¹³ ²°²² WM
dÇ Ébd'Ç
The arbitrator shall make his determination in accordance with

the provisions of this paragraph, based on the best evidence
available to him. He will review Oil sales contracts as well as
other sales data and information but shall be free to evaluate the
extent to which any contracts, data or information is substantiated
or pertinent. Representatives of EGPC and CONTRACTOR
shall have the right to consult with the arbitrator and furnish him
written materials provided the arbitrator may impose reasonable
limitations on this right. EGPC and CONTRACTOR each shall
cooperate with the arbitrator to the fullest extent and each shall
insure such cooperation of its trading companies. The arbitrator
shall be provided access to Crude Oil sales contracts and related
data and information which EGPC and CONTRACTOR or their
trading companies are able to make available and which in the
judgment of the arbitrator might aid the arbitrator in making a
valid determination.
(vi) Pending Market Price agreement by EGPC and CONTRACTOR
‫صورة إ‬
or determination by the arbitrator, as applicable, the Market
Price agreed for the quarter preceding the quarter in question
shall remain temporarily in effect. In the event either EGPC or
‫لك‬
CONTRACTOR should incur a loss by virtue of the temporary
‫تروني‬
continuation of the Market Price of the previous quarter, it shall
promptly be reimbursed such loss by the other party plus simple
interest at the LIBOR plus two and one - half percent (2.5%)
‫ة ال يع‬
per annum rate provided for in Article IV (f) from the date on
which the disputed amount(s) should have been paid to the date
of payment.
‫تد بها‬
(2) Gas and LPG:

(i) The Cost Recovery, Production Sharing and Excess Cost Recovery,
if any, Gas Price for local market will be agreed upon between
‫عند ا‬
CONTRACTOR and EGPC or EGAS after the Commercial

Discovery and before converting an area to a Development
‫ل‬
Lease(s). Production Sharing Gas Price for export will be valued

‫تداول‬
at Netback Price.
²°²² WM
dÇ Ébd'Ç ¹´
nOUJÇ ÏÇÏd
U WU)Ç (LPG) äU *Ç äèdÇ ÒU hB Éb vK rOI -²
WUO èÃ äèUI*Çè WONÇ WdF0 tKOGA -è TAÃï qLF s WM*Ç ÌUÇè
äèdÇ ÒU qLF ÌÑU) cHM*Ç bM æUuOÇè æUèdK W MU pÐè ¬ULNM
äèUI*Çè WONÇ oH r U Çc) WOUÇ WÏUFLK Uë Iè ¬Ñuc*Ç (LPG) äU *Ç
:(pÐ á vK
Ñ È . , ¹µ = å È Ú Ó
: ΙϳΣ
W MU WKI ÉÑuB ÇÏb) ë (LPG) äU *Ç äèdÇ ÒU dààF
= å È Ú Ó
dF fK æUMÇè æUÇ dF
ÑUÇ rO
¬æUuOÇè æUèdK
ÊÇÑèb Uë uI éd s qJ (wÇuÇ vK æUuOÇè æUèdÇ
.WOJd_Ç Éb*Ç ÊUuÇ
UObÇè UOKFÇ ÑUF
_Ç 5 vD
uÇ WLOIK WKL*Ç åUÑ_Ç j
u = Ñ È
Éb*Ç ÊUuÇ ÊÇÑèb ¬êd s qJ dN Éd éb vK
f" ddI v dNAÇ Çc ä sKF u U V WOJd_Ç
‫صورة إ‬
WKUMÇ dN rOK æUuOÇè æUèdK W MU "dÇè ÒU v äÅ
Èd Ex-Ref /Stor ddJÇ qUF ÊUÏu ÌÑU (Èu)
.j
u*Ç dÇ‫لك‬
‫تروني‬
ÑbàààB "dàààÇè ÒUààà vààà äÅ fààà"ddI æU ÇÐÅ Uààà WàààU vàààè
WLO Vààà % ¬UdO æèÏ ÑuNàààAÇ s dNààà ä WMOF åUàààÃ vààà
vè .Ubè dNàààAÇ pÐ ä ÉÑuàààAM*Ç dÑUIÇ äULFààà
U (Ñ È)
‫ة ال يع‬
åb Vààà (Ñ È) WLO bb% ÙUDààà *Ç dO s æU ÇÐÅ U WU

s dNààà ä â Ç vK "dÇè ÒUààà v äÅ f" dàààdI dàààA
‫تد بها‬
ÙudU (Ñ È) WLO vK æUàààIHè äèUI*Çè WONÇ lL& ¬ÑuNàààAÇ

ÉÑuàààAM ÑÏUB Ïuè åb WU vè .éd _Ç ÉÑuàààAM*Ç ÑÏUB*Ç vÅ
o
U* Uë Iè (Ñ È) WLO bb% ÙUD *Ç dO s æU ÇÐÅ èÃ ¬çcN
‫عند ا‬
(Ñ È) WLO vàààK æUIHè äèUI*Çè WàààONÇ lL& ¬dààà Â Vààà

é_
(æUuOÇ è æUèdÇ) (LPG) äU *Ç äèdÇ ÒU WLO vÅ ÙudU
‫ل‬
‫تداول‬
.j
u*Ç dÇ WIDM s "Èu" ÓU
Ã vK tLOK r écÇ
¹µ ²°²² WM
dÇ Ébd'Ç
(ii) The Cost Recovery and Production Shares of (LPG) produced

from a plant constructed and operated by or on behalf of EGPC
and CONTRACTOR shall be separately valued for Propane
and Butane at the outlet of such LPG plant according to the
following formula (unless otherwise agreed between EGPC and
CONTRACTOR):
PLPG = 0.95 PR
Where:
PLPG = LPG price (separately determined for Propane and Butane,
Ethane and Pentane plus price shall be considered as Propane
and Butane respectively) in U.S. Dollars per metric ton.
PR = The average over a period of a month of the gures representing
the mid-point between the high and low prices in U.S.
Dollars per metric ton quoted in "Platt’s LPGaswire"
‫صورة إ‬
during such month for Propane and Butane FOB Ex-Ref/
Stor. West Mediterranean.
In the event that "Platt’s LPGaswire" is issued on certain
‫لك‬
days during a month but not on others, the value of (PR) shall
‫تروني‬
be calculated using only those issues which are published
during such month. In the event that the value of (PR)
‫ة ال يع‬
cannot be determined because "Platt’s LPGaswire" is not
published at all during a month, EGPC and CONTRACTOR
shall meet and agree to the value of (PR) by reference to
‫تد بها‬
other published sources. In the event that there are no such

other published sources or if the value of (PR) cannot be
‫عند ا‬
determined pursuant to the foregoing for any other reason ,

EGPC and CONTRACTOR shall meet and agree the value
‫ل‬
of (PR) by reference to the value of LPG (Propane and

‫تداول‬
Butane) delivered FOB from the Mediterranean Area.

²°²² WM
dÇ Ébd'Ç ¹¶
r æÃ ÓU
Ã vK (LPG) äU *Ç äèdÇ ÒUG rOOIÇ Çc åuIè
.(³)(²) (à) ÉdI WFU Ç ÉÏU*Ç v ÉÏb;Ç rOK Ç WDI v rOK Ç
uMÇ Çc vK UNU r vÇ (LPG) äU *Ç äèdÇ ÒUè ÒUGÇ ÑUF
Ã oD -³
.dNAÇ fH ä
¬(LPG) äU *Ç äèdÇ ÒUè ÒUGÇ s ÌUÇè nOUJÇ ÏÇÏd

Ç hB rOI -´
ÉÏULK Uë I ÓUÅ èÃ WONÇ dO vÅ äèUI*Çè WONÇ WdF0 ULNHdB r scKÇ
.(à) ÉdI WFU Ç
:Ε΍΅ΑϧΗϟ΍ (Ω)
Uë u (¹°) 5F WO1uI WM

nB q Áb qè) ÊUOKLFU WLzUIÇ WdAÇ bF
‫صورة إ‬
ë
vULÅ Ïb WONÇè äèUILK tbI Uë OU ÇRM (rEM ÌUÅ äèÃ bF q_Ç vK
UN ØUHÇè UNUÅ sJ1 tÃ ÊUOKLFU WLzUIÇ WdAÇ ÑbI vÇ äèdÇ WOL
‫لك‬
WLOK Ç äu Uë Iè ¬ÉÑuc*Ç WO1uIÇ WM Ç nB ä WOUHÇ çc vCI0 UNKIè
‫تروني‬
.ÒUGÇè XeÇ WUM v WOd*Ç
‫ة ال يع‬
WM
nB q v UN QM*Ç WOLJÇ ÌUÅ WèU ÊUOKLFU WLzUIÇ WdAÇ vKè
ZÑUN vÅ ÊUOKLFU WLzUIÇ WdAÇ WdF0 åU)Ç XeÇ qIM æÃ 5Fè .WO1uI
‫تد بها‬
`zÇuK Uë Iè qGAè æUBè åUI vÇ WdÇ sAÇ ÊON vÅ èÃ seÇ
ÖdG éd _Ç âdDU ÓUI èÃ éd*Ç ÓUOIU åU)Ç XeÇ UNO ÓUIè ¬WOuJ(Ç
‫عند ا‬
WdF0 ÒUGÇ qUFè .WOUHÇ çc UNKD vÇ éd _Ç ÖÇd_Çè ÉèUÇ ÈU Ç
‫ل‬
‫تداول‬
.(à) WFU Ç ÉÏU*Ç åUJ_ Uë Iè ÊUOKLFU WLzUIÇ WdAÇ

¹· ²°²² WM
dÇ Ébd'Ç
Such valuation of LPG is based upon delivery at the

delivery point specied in Article VII (e) (2) (iii).
(iii) The prices of Gas and LPG so calculated shall apply during the
same month.
(iv) The Cost Recovery and Production Shares of Gas and LPG
disposed of by EGPC and CONTRACTOR other than to EGPC
or EGAS shall be valued pursuant to Article VII (e).
(d) Forecasts:
Operating Company shall prepare (not less than ninety (90) days prior
to the beginning of each calendar semester following rst regular
production) and furnish in writing to CONTRACTOR and EGPC
‫صورة إ‬
a forecast setting out a total quantity of Petroleum that Operating
Company estimates can be produced, saved and transported hereunder
‫لك‬
during such calendar semester in accordance with good Oil and Gas
‫تروني‬
industry practices.
Operating Company shall endeavor to produce each calendar semester

‫ة ال يع‬
the forecast quantity. The Crude Oil shall be run to storage tanks
or offshore loading facilities constructed, maintained and operated
‫تد بها‬
according to GOVERNMENT Regulations, by Operating Company

in which said Crude Oil shall be metered or otherwise measured for
‫عند ا‬
royalty and other purposes required by this Agreement. Gas shall be

handled by Operating Company in accordance with the provisions of
‫ل‬
‫تداول‬
Article VII (e).

²°²² WM
dÇ Ébd'Ç ¹¸
:ϝϭέΗΑϟ΍ ϰϓ ϑέλΗϟ΍ (˰ϫ)

q tI écÇ åU)Ç XeÇ q vK B æQ UeKè äèUI*Çè WONK o (±)
Ïb;Ç uMÇ vK WLEM WHB ¬ULÏdH0 tO UdBè Wd çÇÑbBè ULNM
äu æÃ v o(Ç äèUILKè .WFU Ç ÉÏU*Ç s (È) ÉdIHÇè (Ã) ÉdIHK Uë I
lO WKOB pÐ v U0 UNOK qB vÇ äÇu_Ç lOL ÌÑU)Ç v kHè
Vu0 WONK WI *Ç mU*Ç Ïb
b æuJ æÃ ×dA pÐè ¬äèdÇ s tB
.WF
UÇ ÉÏU*Çè (²) (Ã) WFU Ç ÉÏU*Ç
ÊUUOÇ WNÇu* Wuè_Ç vDF ¬WOUHÇ çc v pc Uë Ïd U2 rdÇ vKè
Vu0 äèUI*Ç VOB s pÐè WIDM*Ç s ZM*Ç åU)Ç XeÇ s .Ù.å.Ì âu
XeÇ pÐ ÁÇd v Wuè_Ç o WONK æuJè ¬WFU Ç ÉÏU*Ç s (È) ÉdIHÇ
vK çÇdA*Ç åU)Ç XeÇ WOL dFè .(Ì) WFU Ç ÉÏULK Uë Iè Ïb dF åU)Ç
V
UMè .WFU Ç ÉÏU*Ç s (È) ÉdIHÇ Vu0 äèUI*Ç VOB s ÇÁe ë uMÇ Çc
o UM s åU)Ç XeÇ ÌUÅ vULÅ l äèUI*Ç VOB s ÉÇdA*Ç WOLJÇ pK
ÏÇb
æuJè .ÁÇdAÇ WuèÃ v WONÇ o( Uë CÃ lC vÇ .Ù.å.Ì v åÇeÇ
‫صورة إ‬
WKL éÃ èÃ WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèb çÇdA*Ç WOLJÇ pK WLOI WONÇ
.äèUI*Ç WdF0 ÌÑUK d(Ç quK WKU éd Ã
5FÑÃè W L o ÑUD S ¬äèUI*Ç dD áu
WONÇ æÃ tOK oH*Ç sè ‫لك‬
‫تروني‬
ä UNzÇd ÏÇd*Ç WOLJU ¬WO1uIÇ WM Ç nB Áb q q_Ç vK Uë u (´µ)
.(±) (à) WFU Ç ÉÏU*Ç çcN Uë àIè WM
nBMÇ pÐ
‫ة ال يع‬
:ΔϘρϧϣϟ΍ ϥϣ ϥϳΟΗϧϣϟ΍ (LPG) ϝΎγϣϟ΍ ϝϭέΗΑϟ΍ ίΎϏϭ ίΎϐϟ΍ ιΧϳ Ύϣϳϓ (˻)
v c _Ç l ¬WONÇ UÏb% UL WOK;Ç âu Ç ÊUUOU ÁUuK Wuè_Ç vDF -±
:WOÇ ÊU(Ç ÑUÇ
‫تد بها‬
ÌUÇ åU Ç ÒU s tOB s Áe èÃ q ndB äèUI*Ç åUO WU v -

äuB(Ç bF ¬WOK;Ç âu K çÏdH0 ¬bè æÅ ¬nOUJÇ ÏÇÏd
Ç izU ÒUè
‫عند ا‬
ÒUGÇ dF WONÇ dD æÃ äèUI*Ç vK V tS ¬äèdÇ dÒè WIÇu vK
±¹¶ rÑ ÒUGÇ âu
WDAÃ rOEM æuU tOK oD UL ÒUGÇ dAè tUOLè
‫ل‬
‫تداول‬
..Ù.å.Ì v æQAÇ Çc v t äuLF*Ç ²°±· WM

¹¹ ²°²² WM
dÇ Ébd'Ç
(e) Disposition of Petroleum:

(1) EGPC and CONTRACTOR shall have the right and the obligation
to separately take and freely export or otherwise dispose of,
currently all of the Crude Oil to which each is entitled under
Article VII (a) and (b). Subject to payment of sums due to EGPC
under Article VII (a) (2) and Article IX, CONTRACTOR shall
have the right to remit and retain abroad all funds acquired by it
including the proceeds from the sale of its share of Petroleum.
Notwithstanding anything to the contrary under this Agreement,
priority shall be given to meet the requirements of the A.R.E.
market from CONTRACTOR's share under Article VII (b) of
the Crude Oil produced from the Area and EGPC shall have
the preferential right to purchase such Crude Oil at a price to
be determined pursuant to Article VII (c). The amount of Crude
Oil so purchased shall be a portion of CONTRACTOR's share
under Article VII (b). Such amount shall be proportional to
CONTRACTOR’s share of the total production of Crude Oil from
the concession areas in the A.R.E. that are also subject to EGPC’s
‫صورة إ‬
preferential right to purchase. The payment for such purchased
amount shall be made by EGPC in U.S. Dollars or in any other
freely convertible currency remittable by CONTRACTOR
abroad.
‫لك‬
It is agreed upon that EGPC shall notify CONTRACTOR, at
‫تروني‬
least forty-ve (45) days prior to the beginning of the Calendar
Semester, of the amount to be purchased during such semester
under this Article VII (e) (1).
‫ة ال يع‬
(2) With respect to Gas and LPG produced from the Area:
(i) Priority shall be given to meet the requirements of the local market
as determined by EGPC, taking into consideration the following
‫تد بها‬
cases:-
- In case CONTRACTOR elects to dispose all or part of its share of
Production Sharing Gas and Excess Cost Recovery Gas, if any, by
‫عند ا‬
itself to local market, after obtaining the Minister of Petroleum's

approval, CONTRACTOR shall notify EGPC of the Gas price,
Quantities and Gas buyer, the effective Law No. 196 of 2017 for
‫ل‬
‫تداول‬
Regulating Gas Market Activities in A.R.E. shall be applied on

CONTRACTOR.
²°²² WM
dÇ Ébd'Ç ±°°
ÒUGÇ dbB vK Uë F äèUI*Çè ÓUÅ/WONÇ èÃ ÓUÅ/WONÇ âUHÇ WU v -

ÊUDK Ç WIÇu vK äuB(Ç ULNOK V tS (LPG) äU *Ç äèdÇ ÒU èÃ
.dbBK WBB*Ç WOLJÇè dF Ç vK .Ù.å.Ì v WB*Ç
ÒUGÇ v ádBÇ æuJ ¬ÒUGK WdA*Ç v ÓUÅ èÃ WONÇ æu WU v -²
åd q_Ç WKu ÒUGÇ lO ÏuI vCI0 ¬tOUF 5 u UL WOK;Ç âÇu

.(dA UNHB) ÓUÅ èÃ WONÇè (5FzU ULNHB) äèUI*Çè WONÇ 5
5*Ç rOK Ç æUJ v ÒUGÇ rOK (5FzU ULNHB) äèUI*Çè WONÇ åeKè
lOÇ ÖÇd_ pÐè éd*Ç ÓUOIÇ WIdD ÒUGÇ Çc ÓUO r YO ¬wK ULO
:WOUHÇ çc UNKD vÇ éd _Ç ÖÇd_Ç s pÐ dOè ÉèUÇè
¬ÒUGÇ Çc W'UF* (LPG) äU *Ç äèdÇ ÒUG qLF ÁUAÅ åb WU v -Ã
VOUÃ j ÁUIÇ bM æuJ
vÇ WDIMÇ v ¬rOK Ç WDI æuJ
WOuIÇ ÒUGÇ VOUÃ ×uD WJ vK WDI ÈdQ WOLMÇ bI WIDM
‫صورة إ‬
tOK âUHÇ r UL èÃ ¬WOUHÇ çc v "è" oK*Ç v `{u u UL
.pc Uë äèUI*Çè WONÇ 5
‫لك‬
r ¬ÒUGÇ Çc W'UF* (LPG) äU *Ç äèdÇ ÒUG qLF ÁUAÅ WU v -È
‫تروني‬
cHM*Ç bM éd*Ç ÓUOIÇ WIdD lOÇè rOOIÇ ÖdG ¬ÒUGÇ pÐ ÓUO
¬åuI áu
äèUI*Ç æÃ dO ¬Çc (LPG) äU *Ç äèdÇ ÒU qLF ÌÑU)
‫ة ال يع‬
qLF ÌÑU) cHM*Ç bM r áu
éd*Ç ÓUOIÇ æÃ WIOI s dEMÇ ádB
ÁUAS ÊUOKLFU WLzUIÇ WdAÇ ä s ¬(LPG) äU *Ç äèdÇ ÒU
äèdÇ ÒU qLF ÌÑU) cHM*Ç s ZUF*Ç ÒUGÇ qIM V
UM VOUÃ j
‫تد بها‬
ÒUGÇ VOUÃ ×uD) WOuIÇ WJAÇ vK WDI ÈdÃ vÅ (LPG) äU *Ç
vK âUHÇ r UL èÃ WOUHÇ çc v "è" oK*Ç v `{u u UL
‫عند ا‬
Uë Iè pÐè Çc VOU_Ç j) WONÇ pK9è .äèUI*Çè WONÇ 5 pÐ á

WOLM ÊUèdBL äèUI*Ç WD
Çu Ïd è tHKJ äu9è ¬(Ã) WMUÇ ÉÏULK
‫ل‬
‫تداول‬
.WFU Ç ÉÏULK Uë Iè

±°± ²°²² WM
dÇ Ébd'Ç
- In case EGPC/EGAS or EGPC/EGAS and CONTRACTOR

export Gas or LPG jointly, they should obtain the A.R.E.
competent authorities' approval on the price and quantities
allocated for export.
(ii) In the event that EGPC or EGAS is to be the buyer of Gas, the
disposition of Gas to the local markets as indicated above shall be
by virtue of long term Gas Sales Agreements to be entered into
between EGPC and CONTRACTOR (as sellers) and EGPC or
EGAS (as buyer).
EGPC and CONTRACTOR (as sellers) shall have the obligation
to deliver Gas to the following point where such Gas shall be
metered for sales, royalty, and other purposes required by this
Agreement:
(a) In the event no LPG plant is constructed to process such Gas, the
delivery point shall be at the ange connecting the Development
‫صورة إ‬
Lease pipeline to the nearest point on the National Gas Pipeline
Grid System as depicted in Annex "F" hereto, or as otherwise
agreed by EGPC and CONTRACTOR.
‫لك‬
‫تروني‬
(b) In the event an LPG plant is constructed to process such Gas, such
Gas shall, for the purposes of valuation and sales, be metered
at the outlet to such LPG Plant. However, notwithstanding the
‫ة ال يع‬
fact that the metering shall take place at the LPG Plant outlet,
CONTRACTOR shall through the Operating Company build a
‫تد بها‬
pipeline suitable for transport of the processed Gas from the LPG
Plant outlet to the nearest point on the National Gas Pipeline
Grid System as depicted in Annex "F" hereto, or otherwise agreed
‫عند ا‬
by EGPC and CONTRACTOR. Such pipeline shall be owned

in accordance with Article VIII (a) by EGPC, and its cost shall
‫ل‬
be nanced and recovered by CONTRACTOR as Development

‫تداول‬
Expenditures pursuant to Article VII.

²°²² WM
dÇ Ébd'Ç ±°²
äèdÇ ÒUG qLF ÁUAÅ 5F æU ÇÐÅ U ddI Uë F äèUI*Çè WONÇ ÑèUA -³
ZM ÒU éÃ s (LPG) äU *Ç äèdÇ ÒU ÌÇd
Ç ÖdG (LPG) äU *Ç
¬qLF*Ç Çc ÁUAÅ äèUI*Çè WONÇ ÊÑd ÇÐÅ U WU v è ¬WOUHÇ çc Vu0
uMÇ vK rOK Ç WDI s ¬æUJÇ ÑbI ¬Uë d qLF*Ç Çc æuJ æÃ 5FO
äèdÇ ÒU rOK rè .(²) (²) (àà) WFU Ç ÉÏU*Çè WOUÇ ÉÏU*Ç s Ïb;Ç
çc UNKD vÇ ÖÇd_Ç s çdOè ÉèUÇ ÈU Ç ÖdG (LPG) äU *Ç
nOUJ Ïd è (LPG) äU *Ç äèdÇ ÒU qLF ÌÑU) cHM*Ç bM ¬WOUHÇ
r U WOUHÇ çc ÕuBM Uë Iè Çc (LPG) äU *Ç äèdÇ ÒUG qLF éÃ
.ÏÇÏd
U qOFÇ vK äèdÇ dÒè oÇu
vU ÑUD Å vCI0 ¬ÑU æÃ v o(Ç (dA UNHB) ÓUÅ èÃ WONK -´
æU ÇÐÅ U ¬(5FzU ULNHB) äèUI*Çè WONK tK
d Uë u (¹°) 5F o
ë (±) rO
lbÇ
åd*Ç ÒUGÇ lO bI tKLA écÇ ÒUGÇ s ¬Uë MO (²) èÃ ÇbI
Çcè (dA UNHB) ÓUÅ èÃ WONÇè (5FzU ULNHB) äèUI*Çè WONÇ 5
äèUI*Çè WONÇ WdF0 qGAè QAM qLF s ZM*Ç (LPG) äU *Ç äèdÇ ÒU
‫صورة إ‬
tI écÇè ¬WFU Ç ÉÏU*Ç s (Ì) ÉdIHK Uë Iè rOI u UL ¬ULNM WUO èÃ
tOK ÕuBM u UL ÌUÇ åU Çè nOUJÇ ÏÇÏd
Ç åUJÃ vCI0 äèUI*Ç
‫لك‬
.WOUHÇ çc v WFU Ç ÉÏU*U
‫تروني‬
ÊÇÑèbè ¬(dA UNHB) ÓUÅ èÃ WONÇ WdF0 ¬ÇbI ë ÊUub*Ç æuJè
vK pÐè ¬ÌÑU)Ç vÅ UNKu% äèUILK sJ1 vÇ WOJd_Ç Éb*Ç ÊUuÇ
‫ة ال يع‬
.Ùu{u*U oKF*Ç ÒUGÇ lO bI v UNOK hM ÊÇd
vÇ (LPG) äU *Ç äèdÇ ÒUè ÒUGÇ WLO qu WOMOFÇ ÊUub*Ç V %
äèUI*Ç UNOK qB vÇ åU)Ç XeÇ qOÇd s UNÏUF U vÅ äèUI*Ç UNI
‫تد بها‬
c _Ç æuJ ¬áU dO Çc åU)Ç XeÇ æU ÇÐÅ èÃ ¬WIDM*Ç s XuÇ fH v
éÃ s èÃ äèUILK WFUÇ éd _Ç åÇeÇ o UM s Ìd *Ç åU)Ç XeÇ s
‫عند ا‬
åU)Ç XeÇ s çdO vÅ åU)Ç XeÇ Çc áUCè .tOK oH UL éd Ã o UM
vK WÏUF*Ç qOÇdÇ çc V %è WOUHÇ çc vCI0 çc Ã äèUILK o écÇ
‫ل‬
hB*Ç åU)Ç XeÇ rOOI WIKF*Çè WFU Ç ÉÏU*Ç s (Ì) ÉdIHÇ ÕuB ÓU
Ã
‫تداول‬
.nOUJÇ ÏÇÏd

±°³ ²°²² WM
dÇ Ébd'Ç
(iii) EGPC and CONTRACTOR shall consult together to determine

whether to build an LPG plant for recovering LPG from any Gas
produced hereunder. In the event EGPC and CONTRACTOR
decide to build such a plant, the plant shall, as is appropriate, be in
the vicinity of the point of delivery as determined in Article II and
Article VII (e) 2 (ii). The delivery of LPG for, royalty and other
purposes required by this Agreement shall be at the outlet of the
LPG plant. The costs of any such LPG plant shall be recoverable
in accordance with the provisions of this Agreement unless the
Minister of Petroleum agrees to accelerated recovery.
(iv) EGPC or EGAS (as buyer) shall have the option to elect, by ninety
(90) days prior written notice to EGPC and CONTRACTOR
(as sellers), whether payment for the Gas which is subject to
a Gas Sales Agreement between EGPC and CONTRACTOR
(as sellers) and EGPC or EGAS (as buyer) and LPG produced
from a plant constructed and operated by or on behalf of EGPC
‫صورة إ‬
and CONTRACTOR, as valued in accordance with Article VII
(c), and to which CONTRACTOR is entitled under the Cost
Recovery and Production Sharing provisions of Article VII, of
‫لك‬
this Agreement, shall be made 1) in cash or 2) in kind.
‫تروني‬
Payments in cash shall be made by EGPC or EGAS (as buyer)
at intervals provided for in the relevant Gas Sales Agreement in
U.S. Dollars, remittable by CONTRACTOR abroad.
‫ة ال يع‬
Payments in kind shall be calculated by converting the value of
Gas and LPG to which CONTRACTOR is entitled into equivalent
Barrels of Crude Oil to be taken concurrently by CONTRACTOR
‫تد بها‬
from the Area, or to the extent that such Crude Oil is insufcient,
Crude Oil from CONTRACTOR’s other concession areas or
such other areas as may be agreed. Such Crude Oil shall be added
‫عند ا‬
to the Crude Oil that CONTRACTOR is otherwise entitled to lift

under this Agreement. Such equivalent Barrels shall be calculated
‫ل‬
on the basis of the provisions of Article VII (c) relating to the

‫تداول‬
valuation of Cost Recovery Crude Oil.

²°²² WM
dÇ Ébd'Ç ±°´
:ϥ΃ ρέΗηϳϭ
ë ¬åÇèbÇ vK (LPG) äU *Ç äèdÇ ÒUè ÒUGÇ WLO ÏÇb
æuJ
ÊÇÑèb ÇbI
åb WU v pÐè ÌÑU)Ç vÅ UNKu% äèUILK sJ1 vÇ WOJd_Ç Éb*Ç ÊUuÇ
.tOUF tOK ÕuBM u UL quK ÍU*Ç åU)Ç XeÇ s vHJ U du
ë XU ÁÇu
) äèUILK WI *Ç ÊUub*Ç ÌÑb
WIKF æuJ UbM ¬(Uë MO èÃ ÇbI
ÕU)Ç äèUI*Ç æUO äèUI*Ç tI écÇ nOUJÇ ÏÇÏd
hB*Ç äèdU
WFÇdÇ ÉÏU*U ÏÑÇè u UL nOUJÇ ÏÇÏd
hB*Ç äèdÇè nOUJÇ ÏÇÏd
U
.WOUHÇ çcN "à" oK*Ç s
ë (dA UNHB) ÓUÅ èÃ WONÇ åÇdÅ åb WU v -µ
ÒUGÇ lO q_Ç qu ÇbI
ÏULÇ aÑU s ÊÇuM
(´) lÑÃ ä (5FzU ULNHB) äèUI*Çè WONÇ l
vK äuB(Ç v o(Ç äèUI*Çè WONK æuJ ¬WUÇ ÉÏULK Uë Iè ÒUGK WOLMÇ bI
áUAU ÑUD Å UNQA vDÃ vÇ (LPG) äU *Ç äèdÇ ÒUè ÒUGÇ WOL
äU *Ç äèdÇ ÒUè ÒUGÇ dbB pÐè Wd(Ç oKD0 UNO ádBÇè éÑUÇ
‫صورة إ‬
vK WB*Ç ÊUDK Ç WIÇu vK äuB(Ç ×dA pÐè sÑuc*Ç (LPG)
(LPG) äU *Ç äèdÇ ÒUG èÃ ÒUGÇ ÇcN ÓUÅ/WONÇ ÌUOÇ åb Çcè pÐ
.wK;Ç âu Ç ÊUUOÇ ÁUHO
‫لك‬
‫تروني‬
ÒUGÇ s tB lO ÊÇbzUF ÌÑU)Ç v Wd kH èÃ äu æÃ äèUILK o -¶
(µ) WOdHÇ ÉdIHK Uë Iè ULNHdB - scKÇ (LPG) äU *Ç äèdÇ ÒUè
‫ة ال يع‬
.çÃ
äU *Ç äèdÇ ÒUè ÒUGK Ïb 5M äu vK äèUI*Çè WONÇ âUHÇ WU v -·
‫تد بها‬
5M*Ç ÁR vK Uë Çe æuJ ¬dbBK ÑU ÙèdA v WÑUALK (LPG)
.- écÇ ÑUL
Ç v nBMè äÏU VOBM WLU *Ç
‫عند ا‬
(à) WFU Ç ÉÏU*U UNOÅ ÑUA*Ç ÊÇuM

(´) lÑ_Ç Éd ÁUCIÇ bM (Ã Ã) -¸
dbB âu
ÏU WuIF*Ç çÏuN äc æQàà äèUI*Ç åeK ¬(µ) (²)
‫ل‬
‫تداول‬
.ÒUGÇ ÊUO UOÇ

±°µ ²°²² WM
dÇ Ébd'Ç
Provided that:
Payment of the value of Gas and LPG shall always be made in cash in
U.S. Dollars remittable by CONTRACTOR abroad to the extent that
there is insufcient Crude Oil available for conversion as provided for
above.
Payments to CONTRACTOR (whether in cash or kind), when related
to CONTRACTOR's Cost Recovery Petroleum, shall be included
in CONTRACTOR's Statement of Recovery of Costs and of Cost
Recovery Petroleum referred to in Article IV of Annex "E" of this
Agreement.
(v) Should EGPC or EGAS (as buyer) fail to enter into a long-
term Gas Sales Agreement with EGPC and CONTRACTOR
(as sellers) within four (4) years from the approval date of a
Gas Development Lease pursuant to Article III, EGPC and
CONTRACTOR shall have the right to take and freely dispose
‫صورة إ‬
of the quantity of Gas and LPG in respect of which the notice
of Commercial Discovery is given by exporting such Gas and
LPG , subject to the approval of the competent authorities and
‫لك‬
in case EGPC/EGAS is not in need for such Gas or LPG to
‫تروني‬
meet the needs of domestic markets.
(vi) The proceeds of sale of CONTRACTOR's share of Gas and
LPG disposed of pursuant to the above sub-paragraph (v) may
‫ة ال يع‬
be freely remitted or retained abroad by CONTRACTOR.
(vii) In the event EGPC and CONTRACTOR agree to accept new
‫تد بها‬
Gas and LPG producers to join in an ongoing export project,

such producers shall have to contribute a fair and equitable
share of the investment made.
‫عند ا‬
(viii) (aa) Upon the expiration of the four (4) year period referred
to in Article VII (e) (2) (v), CONTRACTOR shall have the
‫ل‬
obligation to exert its reasonable efforts to nd an export

‫تداول‬
market for Gas reserves.

²°²² WM
dÇ Ébd'Ç ±°¶
lÑ_Ç Éd WUN bM ÒUGÇ lO ÇbI äèUI*Çè WONÇ åÇdÅ åb WU v (È È)
äèUI*Ç kH ¬(µ) (²) (à) WFU Ç ÉÏU*Ç v UNOÅ ÑUA*Ç ÊÇuM
(´)
ÉÏULK Uë Iè (²) 5M
v éd Ã ÉdH ÒUGÇ pÐ v UOÇ v tuI
âu
ÏUÅ ÉdHÇ pK ä WONÇ äèU%è (Ì Ì) (¸) (²) (à) WFU Ç
.ÒUGÇ ÊUO UO
ë äèUI*Çè WONÇ åÇdÅ åbè ÒUGK äèUI*Çè WONÇ dbB åb WU v (Ì Ì)
lO ÇbI
X
ÁUCIÇ q (²) (à) WFU Ç ÉÏU*Ç vCI0 ¬ÓUÅ/WONÇ l ÒUGÇ
WONK ë ÒUM äèUI*Ç dF ¬ÒUGK WOLMÇ bI ÏULÇ aÑU s ÊÇuM
(¶)
bIF Uë {d äèUI*Ç qI rè UNQA ÑUD Ç vDÃ vÇ ÒUGÇ ÊUO UOÇ s
ÖdFÇ pÐ .bI aÑU s dNÃ (¶) W
ä v WONÇ s ÒUGÇ lO
vÇ ÒUGÇ ÑUF
Ã äèUILK åbI*Ç ÒUGÇ lO bI v ÑUÇ v c R æÃ ×dA
YO s dB0 WKUL*Ç èÃ/è WL U*Ç o UM*Ç v ÒUGÇ lO ÏuI l V
UM
:pÐ qLAè Uë ÑU& bIFÇ `B vJ æÇe)Ç oLè çUO*Ç oL
‫صورة إ‬
.Uë OU rOK äbF -
bM WOuIÇ ÒUGÇ VOUÃ ×uD WJ åUE v äu bK rOK jG{ -
.rOK Ç WDI
VKD èÃ oD u U2 WÇd bÃ rK *Ç ÒUGÇ WOu ÊUHÇu æuJ Ã -
‫لك‬
‫تروني‬
.WOuIÇ ÒUGÇ VOUÃ ×uD WJ åUEM
.ÒUGÇ ÊUFO WOUHÇ v ÉÏb v UL ÒUGÇ ÑUF
Ã -
‫ة ال يع‬
ë
èÃ (²) (à) WFU Ç ÉÏULK Uë Iè ÒUGÇ lO ÇbI äèUI*Ç åÇdÅ åb WU v (Ï Ï)
ÊÇuM
(¶) X
ÁUNÇ bM Uë ÑU& ÒUGÇ Çc v ádBK WuI WD b r
‫تد بها‬
WONÇ l âUHÇ v äèUI*Ç oH Ã ÇÐÅ èÃ ÒUGK WOLMÇ bI ÏULÇ aÑU s

s WONK äèUI*Ç äÒUM ÊÇuM
(¶) X
WUN bM ÒUGÇ v ádBÇ vK
vK WONÇ oÇu r U) UN ÒUGÇ áUAÇ - vÇ çc WOLMÇ (ÏuI) bI
‫عند ا‬
.(pÐ á
æU ÇÐÅ ÒUGK éÑU& áUAÇ vK f
R WOLM bI s äÒUMU äèUI*Ç åeK -¹
‫ل‬
‫تداول‬
.WOLMÇ bI ÊÇÐ v WÑU& ÊUOLJ nAÃ b åU)Ç XeÇ

±°· ²°²² WM
dÇ Ébd'Ç
(bb) In the event at the end of the four (4) year period referred to
under Article VII (e) (2) (v), CONTRACTOR and EGPC have
not entered into a Gas Sales Agreement, CONTRACTOR shall
retain its rights to such Gas reserves for a further period up to two
(2) years, subject to Article VII (e) (2) (viii) (cc), during which
period EGPC shall attempt to nd a market for Gas reserves.
(cc) In the event that EGPC and CONTRACTOR are not exporting
the Gas and EGPC & CONTRACTOR have not entered into a
Gas Sales Agreement with EGPC / EGAS pursuant to Article
VII (e) (2) prior to the expiry of six (6) years from the approval
date of a Gas Development Lease, it shall be considered that
CONTRACTOR has assigned to EGPC the Gas reserves in respect
of which such notice has been given. And CONTRACTOR does
not accept an offer of a Gas Sales Agreement from EGPC within
six (6) months from the date such offer is made provided that
the Gas Sales Agreement offered to CONTRACTOR shall take
into consideration Gas prices commensurate with Gas Sales
Agreements in the adjacent and/or comparable Areas in Egypt
in terms of water depth and the reservoir depth to enable a
commercial contract including:
‫صورة إ‬
- A sufcient delivery rate.
- Delivery pressure to enter the National Gas Pipeline Grid
System at the point of delivery.
‫لك‬
- Delivered Gas quality specications not more stringent than
‫تروني‬
those imposed or required for the National Gas Pipeline Grid
System.
- The Gas prices as specied in the Gas Sales Agreement.
‫ة ال يع‬
(dd) In the event that CONTRACTOR has not entered into a Gas Sales
Agreement pursuant to Article VII (e) (2) or otherwise found an
acceptable scheme for commercial disposal of such Gas, at the
‫تد بها‬
time of the expiration of six (6) years from the approval date of a
Gas Development Lease or failing agreement with EGPC on Gas
disposal at the expiration of six (6) years, CONTRACTOR shall
surrender to EGPC such Development Lease (s) in which Gas
‫عند ا‬
discovery is made (unless otherwise agreed by EGPC).

(ix) CONTRACTOR shall not be obligated to surrender a Development
Lease based on a Commercial Gas Discovery, if Crude Oil has been
‫ل‬
‫تداول‬
discovered in commercial quantities in the same Development

Lease.
²°²² WM
dÇ Ébd'Ç ±°¸
:ΕΎϳϠϣόϟ΍ (ϭ)
âuI WÃ ÉÏu VI WOLMÇ bI WIDM fH v ÒUGÇ v tuI äèUI*Ç kHÇ ÇÐÅ
XeÇ v tuI äèUI*Ç kHÇ ÇÐÅ èÃ ¬WOUHÇ çc vCI0 WONK åU)Ç XeÇ v
çc vCI0 ÒUGÇ v tuI s vKÇ VI WOLMÇ bI WIDM fH v åU)Ç
æuJ vÇ tG
Ç èÃ äèdÇ s YK ÊUOKLF åUOIÇ Òu tS ¬WOUHÇ
Å (WU(Ç æuJ UL ÒUGÇ èÃ XeÇ s) UNM vKÇ - èÃ ÊbOÃ b tO âuI(Ç
r U ¬Ubè WONÇ s WUO pÐ vu vÇ jI ÊUOKLFU WLzUIÇ WdAÇ WdF0
.pÐ á vK WONÇè äèUI*Ç oÇu
:ΕϼϗΎϧϟ΍ ϥΣη ΔϟϭΩΟ (ί)
ÊÇÁÇdÅ vK âUH éÑUÇ ÌUÇ Áb q äuIF Xè v äèUI*Çè WONÇ lL&
.UNOK oH*Ç dbBÇ WDI s ÊUMÇ tMA U Wèb'
WMU« …œU*«
‫صورة إ‬
ϝϭλϷ΍ ΔϳϛϠϣ
ÏÇÏd
Ç vK UNKLè UNJK9è äèUI*Ç UNOK qB vÇ äu_Ç WUJ Uë JU WONÇ `B (Ã)
‫لك‬
Uë Iè ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç UN åuI vÇ ÊUOKLFU WIKF*Ç nOUJÇ
‫تروني‬
-:wK U*
‫ة ال يع‬
.UNzÇd Ïd0 WONK WuK2 v{ÇÑ_Ç `B -±
YO WONÇ vÅ äèUI*Ç s Uë OÑbè Uë OzUIK WuIM*Çè WUÇ äu_Ç WOJK qIM -²
‫تد بها‬
WOJK æÃ dO ¬WFU Ç ÉÏU*Ç ÕuBM Uë Iè ÏÇÏd

Ç dBMF WF{U `B
æuJ UbM WONÇ vÅ äèUI*Ç s Uë OzUIK qIM
WKU WuIM*Çè WUÇ äu_Ç
‫عند ا‬
bM èÃ ¬WFU Ç ÉÏU*Ç ÕuBM Uë Iè qUJU äu_Ç çc WHKJ Ïd
Ç b äèUI*Ç
ÊUOKLFÇ vK WKL;Ç äu_Ç WUJ oKF ULO pÐè WOUHÇ çc ÁUCIÇ
‫ل‬
‫تداول‬
.o
Ã 5ÑUÇ éÃ ¬Ïd r åÃ ÊÏd
Ç XUÃ ÁÇu
±°¹ ²°²² WM
dÇ Ébd'Ç
(f) Operations:
If following the reversion to EGPC of any rights to Crude Oil
hereunder, CONTRACTOR retains rights to Gas in the same
Development Lease, or if, following surrender of rights to Gas
hereunder, CONTRACTOR retains rights to Crude Oil in the same
Development Lease, operations to explore for or exploit the Petroleum,
the rights to which have reverted or been surrendered (Oil or Gas
as the case may be) may only be carried out by Operating Company
which shall act on behalf of EGPC alone, unless CONTRACTOR and
EGPC agree otherwise.
(g) Tanker Scheduling:
At a reasonable time prior to the commencement of Commercial
Production EGPC and CONTRACTOR shall meet and agree upon a
procedure for scheduling tanker lifting from the agreed upon point of
export.
ARTICLE VIII
‫صورة إ‬
TITLE TO ASSETS
(a) EGPC shall become the owner of all CONTRACTOR acquired
‫لك‬
and owned assets which assets were charged to Cost Recovery by
‫تروني‬
CONTRACTOR in connection with the operations carried out by
CONTRACTOR or Operating Company in accordance with the
following:
‫ة ال يع‬
(1) Land shall become the property of EGPC as soon as it is purchased.
(2) Title to xed and movable assets shall be transferred automatically
and gradually from CONTRACTOR to EGPC as they become
‫تد بها‬
subject to recovery in accordance with the provisions of Article

VII; however the full title to xed and movable assets shall be
‫عند ا‬
transferred automatically from CONTRACTOR to EGPC when

its total cost has been recovered by CONTRACTOR in accordance
with the provisions of Article VII or at the time of termination
‫ل‬
‫تداول‬
of this Agreement with respect to all assets chargeable to the

operations whether recovered or not, whichever rst occurs.
²°²² WM
dÇ Ébd'Ç ±±°
WONÇ ÑUD S ÊUOKLFU WLzUIÇ WdAÇ åuI èÃ WONÇ ÑUD S äèUI*Ç åuI
WLOIU WO1uI WM
lÑ q WUN s Uë u (³°) 5 æuC v äèUI*Çè
.WO1uI WM
lÑ q ÁUMÃ Êb
Ç vÇ äu WdbÇ
¬(EUG) ÌUÇè áUAJ
dB WÇu vÅ WOMHÇ ÊUUOÇè ÊUMOFÇ q qIM -³
.WOUHÇ çc ÁUNÇ bM èÃ UNK èÃ UNM ÁUNÇ Ïd0 pÐè
WU WOJK ¬(EUG) ÌUÇè áUAJ
dB WÇu ä s ¬WONK æuJ -´
WOUHÇ çc Vu0 WOèdÇ ÊUOKLFÇ s W&UMÇ WOK_Ç ÊUuKF*Çè ÊUUOÇ
äU*Ç qO
vK WKU ¬( åÃ ÉÏd *Ç nOUJÇ vK UNKOL% - ÁÇu
)
ÊUMOFÇ ¬WOIeOèdÇ¬WOzUOLOuO'Ç¬WOIeOuO'Ç ¬WOuuO'Ç ÊUUOÇ dB(Ç
WU dÑUIè ÑUÇ q
è WO
bMNÇ ÊUUOÇè ÑUÇ dH ÊUMOè WOÇuD
_Ç
s UÇ s äèUI éÃ èÃ äèUILK sJ1 vÇ ÊUUOÇ s pÐ dOè ÑUÇ äULÅ
‫صورة إ‬
WOUHÇ çc æUd
Éb ÁUMÃ v UNOK äuB(Ç èÃ UÏÇbÅ äèUI*Ç s WUO
ÊO è WOIeOuO'Çè WOuuO'Ç dÑUIÇdB(Ç äU*Ç qO
vK WKU)
‫لك‬
.ÊUUOÇ çcN WIKF*Ç ÊÇdO HÇè ÊUuKF*Ç q pcè (UNUUDè ÑUÇ
‫تروني‬
Ébàè WOUHÇ çc æUdà
Éb ä ÊUOKLFU WLzUIÇ WdAÇè äèUILKè WONK æuàJ (È)
ÑUA*Ç WuIM*Çè WUÇ äu_Ç WUJ qUJU ÇèbOH è ÇuKLF æÃ v o(Ç Ubb&
‫ة ال يع‬
éÃ vCI0 èÃ WOUHÇ çc vCI0 éd& vÇ ÊUOKLFÇ ÖÇd_ pÐè tOUF UNOÅ
5Fè .WÒÇ WO
U;Ç Wu Ç éd&è .áÇd _Ç UNd éd Ã vèd åÇeÇ WOUHÇ
‫تد بها‬
.Uë F ULNUHU Å äu_Ç çc v UdB Ã WONÇè äèUI*Ç vK

LF è .Ù.å.Ì vÅ ÇÏÑu æÃ v Wd(Ç ÊUOKLFU WLzUIÇ WdAÇè äèUILK æuJ (Ì)
‫عند ا‬
¬WUMBÇ v WOd*Ç WLOK Ç äu Uë I ÉÑUÇèÃdOQU ÁÇu

ÊÇbF*Çè ÊÇ UNO
æuJè ¬tÇdè vÇ V
U(Ç ÊÇbF ÑU
Ç dB(Ç äU*Ç qO
vK pÐ qLAè
‫ل‬
‫تداول‬
.äULF
Ç pÐ s ÁUNÇ bF UÇÑbB æÃ v Wd(Ç ULN
±±± ²°²² WM
dÇ Ébd'Ç
The book value of the assets created during each calendar quarter
shall be communicated by CONTRACTOR to EGPC or by
Operating Company to EGPC and CONTRACTOR within thirty
(30) days of the end of each quarter.
(3) All samples and technical data shall be transferred to EUG once
it is completed or requested or at the time of termination of this
Agreement.
(4) EGPC shall have title through "EUG" to all original data and
information resulting from Petroleum operations under this
Agreement (either charged to recoverable costs or not) including
but not limited to geological, geophysical, geochemical, petro
physical, cores, cuttings taking from drilling wells and engineering
data; well logs and completion status reports; and any other data
that the CONTRACTOR or anyone acting on its behalf may
‫صورة إ‬
compile or obtain during the term of this Agreement. (Including
but not limited to geological, geophysical, well logs and their
sectors) as well as all data and interpretations related to this data.
‫لك‬
(b) During the term of this Agreement and the renewal period EGPC,
‫تروني‬
CONTRACTOR and Operating Company are entitled to the full use
and enjoyment of all xed and movable assets referred to above in
‫ة ال يع‬
connection with operations hereunder or under any other Petroleum
concession agreement entered into by the Parties. Proper accounting
adjustment shall be made. CONTRACTOR and EGPC shall not
‫تد بها‬
dispose of the same except with agreement of the other.

(c) CONTRACTOR and Operating Company may freely import into the
‫عند ا‬
A.R.E., use therein and freely export at the end of such use, machinery
and equipments which they either rent or lease in accordance with
good industry practices, including but not limited to the lease of
‫ل‬
‫تداول‬
computer hardware and software.

²°²² WM
dÇ Ébd'Ç ±±²
WF
U« …œU*«
΢ϧϣϟ΍
äÒUM qàJ WuJ(Ç ÏULÇ aÑU bM äÒUM WM WONÇ vÅ äèUI*Ç uC/äèUI*Ç lb (Ã)
sdAFÇè WÏU(Ç ÉÏULK Uë Iè tOÅ äÒUM éÃ vÅ äèUI*Ç ÁUCÃ s uC éÃ tKD
-:wK UL
tUÇèè tÇÒUOÇè tuI s Áe èÃ q s äèUI*Ç uC/äèUI*Ç äÒUM WU v -±
uC/äèUI*Ç ÊÇc WFUÇ WdAÇ á) tOÅ äÒUM éÃ vÅ tUÇeÇè
/ äèUI*Ç lb .(Ub r UL ) YÇ ÊÇd s Éd éÃ ä ¬(äèUI*Ç
ë
v äÏUF WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèb ÇÑbI Uë GK WONK äèUI*Ç uC
YÇ ÉdH WOU*Ç ÊUÇeÇ vULÅ s (¥±°) WzU*Ç v ÉdA W tLO
.UNM äÒUM*Ç WBK Uë I è äÒUMÇ UNO r vÇè WÑU'Ç
‫صورة إ‬
tUÇèè tÇÒUOÇè tuI s Áe èÃ q s äèUI*Ç uC/äèUI*Ç äÒUM WU vè -²
‫لك‬
Uë GK WONK äèUI*ÇuC/äèUI*Ç lb ¬UÏÇbÇ èÃ WOLMÇ Éd ä ¬(äèUI*Ç
‫تروني‬
ë
WzU*Ç v ÉdA W tLO v äÏUF WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèb ÇÑbI
‫ة ال يع‬
-:wUÇ uMÇ vK æuJ æÃ sJ1 vÇè äÒUMÇ WIH WLO s (¥±°)
èÃ ¬äÒUM*Ç vÅ tOÅ äÒUM*Ç s Wub*Ç WOU*Ç WLOIÇ -
‫تد بها‬
èÃ ¬WOLMÇ WD /WOMHÇ qLFÇ ZÇd WOU*Ç ÊUÇeÇ -

bI o UM s tOÅ äÒUM*Çè äÒUM*Ç 5 WÏU*Ç ÊUO UO WOU*Ç WLOIÇ -
‫عند ا‬
èÃ ¬WOLMÇ (ÏuI)
èÃ ¬tOÅ äÒUM*Çè äÒUM*Ç 5 WÏU*Ç WB_Ç èÃ /è rN
WOU*Ç WLOIÇ -
‫ل‬
‫تداول‬
.tM ÍUBÇ r ÊUIHBÇ s d Â Ùu éÃ -

±±³ ²°²² WM
dÇ Ébd'Ç
ARTICLE IX
BONUSES
(a) CONTRACTOR / CONTRACTOR Member shall pay to EGPC as an
Assignment Bonus on the date of the GOVERNMENT’s approval of
each assignment requested by any of the CONTRACTOR Members
to any assignee, pursuant to Article XXI, as follows:
1- During any Exploration period (as it may be extended),
CONTRACTOR / CONTRACTOR Member assigns in whole
or in part of its rights, privileges, duties and obligations to
any assignee (other than an Afliated Company of the same
CONTRACTOR/ CONTRACTOR Member), CONTRACTOR/
CONTRACTOR Member shall pay to EGPC the sum equivalent
to ten percent (10%) valued in U.S. Dollars of the total nancial
commitment of the then current Exploration period during which
the assignment is made and according to the assigned percentage .
2- During the Development period or its extension, in case
‫صورة إ‬
CONTRACTOR / CONTRACTOR Member assigns in whole
or in part of its rights, privileges, duties and obligations to
any assignee (other than an Afliated Company of the same
CONTRACTOR/ CONTRACTOR Member), CONTRACTOR/
‫لك‬
CONTRACTOR Member shall pay to EGPC the sum equivalent
‫تروني‬
to ten percent (10%), valued in U.S. Dollars, of the value of each
assignment deal which could be any of the following:
‫ة ال يع‬
• The nancial value to be paid by the Assignee to the Assignor;
or
• The nancial commitments for technical programs/Development
‫تد بها‬
plan; or
• The nancial value of the reserves , to be swapped between
the Assignor and the Assignee from the Development Lease(s)
‫عند ا‬
areas; or
• The nancial value of shares and/or stocks to be exchanged
‫ل‬
between the Assignor and the Assignee; or

‫تداول‬
• Any other type of deals to be declared.

²°²² WM
dÇ Ébd'Ç ±±´
tUÇèè tÇÒUOÇè tuI s Áe èÃ q s äèUI*Ç uC/äèUI*Ç äÒUM WU v -³

/äèUI*Ç lb ¬WOLM bI `M bFè YÇ ÊÇd s Éd éÃ ä ¬(äèUI*Ç
ë
v äÏUF WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèb ÇÑbI Uë GK WONK äèUI*ÇuC
.çÃ (²) ¬(±) v Ñuc u U ÙuL tLO
:ΔϳϟΎΗϟ΍ ΢ϧϣϟ΍ ϕϳΑρΗ ϡΗϳ ϩϼϋ΃ (΃) ΓέϘϔϟΎΑ Ωέ΍ϭϟ΍ ϝίΎϧΗϟ΍ ΔϟΎΣ ϰϓ
ÊUuÇ ÊÇÑèÏ s ÑèÏ (±°°[°°°) nÃ WzU mK WONK äèUI*Ç lb (±
s Áe èÃ ('± × '±) WOLM ÙUD q s WOLM bI WML WOJd_Ç Éb*Ç
.WOLM bI q vK WIÇu*Ç bM WOLM ÙUD
ÊUuÇ ÊÇÑèÏ s ÑèÏ (²°°[°°°) nÃ vzU mK WONK äèUI*Ç lb (²
äèUI*Ç äu Ï vK WIÇu*Ç bM WOLM bIF äèÃ ÏÇbÇ WML WOJd_Ç Éb*Ç
(³) (Ï) ÉdI WUÇ ÉÏULK Uë Iè ÊÇuM
(µ) fL WGUÇ vè_Ç ÏÇbÇ Éd
‫صورة إ‬
.(È È)
ÊUuÇ ÊÇÑèÏ s ÑèÏ (²°°[°°°) nÃ vzU mK WONK äèUI*Ç lb (³
‫لك‬
äèUI*Ç äu Ï vK WIÇu*Ç bM WOLM bIF vU ÏÇbÇ WML WOJd_Ç Éb*Ç
‫تروني‬
(³) (Ï) ÉdI WUÇ ÉÏULK Uë Iè ÊÇuM
(µ) fL WGUÇ WOUÇ ÏÇbÇ Éd
.(È È)
‫ة ال يع‬
W U)Ç ÉÏU*Ç ÕuBM Uë I "wKÇ WIDM"à ØUHU äèUI*Ç åUO WU v (´

WONK äèUI*Ç lb ¬VKDÇ Çc vK äèdÇ dÒè WIÇu bM ¬WOUHÇ çc s
‫تد بها‬
.äèUI*Çè WONÇ 5 UNOK âUHÇ r ÉÏd dO WM

s ÑèÏ (²°°[°°°) nÃ vzU mK WONK äèUI*Ç uC/äèUI*Ç lb (µ
‫عند ا‬
s äèUI*Ç uC èÃ äèUI*Ç äÒUM WU v WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ

ÊÇc WFU Wd vÅ tUÇeÇ èÃ tUÇè èÃ tÇÒUOÇ èÃ tuI s Áe èÃ q
‫ل‬
‫تداول‬
.äÒUM VK qJ WuJ(Ç ÏULÇ aÑU v äèUI*Ç uC/äèUI*Ç

±±µ ²°²² WM
dÇ Ébd'Ç
3- During any Exploration phase and after a Development Lease

is granted, in case CONTRACTOR / CONTRACTOR Member
assigns in whole or in part of its rights, privileges, duties and
obligations to any assignee (other than an Afliated Company
of the same CONTRACTOR/ CONTRACTOR Member)
CONTRACTOR/ CONTRACTOR Member shall pay to EGPC
the sum value, in U.S. Dollars, as mentioned in 1- and 2- above.
In case of Assignment in paragraph (a) above, the following Bonuses
shall apply:
1) CONTRACTOR shall pay to EGPC as a Development Lease
bonus the sum of one hundred thousand U.S. Dollars ($100,000)
per each Development Block (1‫×މ‬1‫ )މ‬or part of a Development
Block, upon the approval of each Development Lease.
2) CONTRACTOR shall pay to EGPC as a Development Lease First
Extension bonus the sum of two hundred thousand U.S. Dollars
($200,000) upon the approval on CONTRACTOR’s request to
enter into the rst ve (5) year Extension Period pursuant to
‫صورة إ‬
Article III (d) (iii) (bb).
3) CONTRACTOR shall pay to EGPC as a Development Lease
Second Extension bonus the sum of two hundred thousand U.S.
‫لك‬
Dollars ($200,000) upon the approval on CONTRACTOR’s
request to enter into the second ve (5) year Extension Period
‫تروني‬
pursuant to Article III (d) (iii) (bb).
4) CONTRACTOR shall pay to EGPC a non-recoverable bonus, to
‫ة ال يع‬
be agreed upon between EGPC and CONTRACTOR, in case
CONTRACTOR retains an "Area to relinquish" according to the
provisions of Article V of this Agreement, upon the Minister of
Petroleum approval for such request.
‫تد بها‬
5) CONTRACTOR/ CONTRACTOR Member shall pay to EGPC

the sum of two hundred thousand U.S. Dollars ($200,000), in
‫عند ا‬
case CONTRACTOR or CONTRACTOR Member assigns in

whole or in part of it’s rights, privileges, duties and obligations
to an Afliated Company of the same CONTRACTOR/
‫ل‬
CONTRACTOR Member, on the date of the GOVERNMENT’s

‫تداول‬
approval of each assignment request.

²°²² WM
dÇ Ébd'Ç ±±¶
ÊÇÑèÏ s ÑèÏ (±°°[°°°) nÃ WzU çÑÇbI Uë GK WONK äèUI*Ç lb (¶
vLÇdÇ ÌUÇ qB UbM vLÇd ÌUÅ WML WOJd_Ç Éb*Ç ÊUuÇ
rè .tUJ U èÃ XÒ qOd (±[°°°[°°°) æuOK vÅ Éd äè_ WIDM*Ç s
.aÑUÇ Çc bF Uë u (±µ) dA W L æuC v ÏÇb Ç
ÊÇÑèÏ s ÑèÏ (²°°[°°°) nÃ vzU çÑÇbI Uë GK WONK äèUI*Ç lb (·
s vLÇdÇ ÌUÇ qB UbM vLÇd ÌUÅ WML WOJd_Ç Éb*Ç ÊUuÇ
rè .tUJ U èÃ XÒ qOd (²[°°°[°°°) vuOK vÅ Éd äè_ WIDM*Ç
.aÑUÇ Çc bF Uë u (±µ) dA W L æuC v ÏÇb Ç
ÊÇÑèÏ s ÑèÏ ( ³°°[°°°) nÃ WzUL çÑÇbI Uë GK WONK äèUI*Ç lb (¸
.tUJ U èÃ XÒ qOd (´[°°°[°°°) 5 WFÑÃ vÅ Éd äè_ WIDM*Ç
.aÑUÇ Çc bF Uë u (±µ) dA W L æuC v ÏÇb Ç rè
‫صورة إ‬
ÊÇÑèÏ s ÑèÏ ( ´°°[°°°) nÃ WzULFÑÃ çÑÇbI Uë GK WONK äèUI*Ç lb (¹
.tUJ U èÃ XÒ qOd (¶[°°°[°°°) 5 W
vÅ Éd äè_ WIDM*Ç‫لك‬
‫تروني‬
ÊÇÑèÏ s ÑèÏ (µ°°[°°°) nÃ WzUL L çÑÇbI Uë GK WONK äèUI*Ç lb (±°
‫ة ال يع‬
.tUJ U èÃ XÒ qOd (¸[°°°[°°°) 5 WOUL vÅ Éd äè_ WIDM*Ç
‫تد بها‬

ÊÇÑèÏ s ÑèÏ (±[°°°[°°°) æuOK çÑÇbI Uë GK WONK äèUI*Ç lb (±±
‫عند ا‬
‫ل‬
.tUJ U èÃ XÒ qOd (±°[°°°[°°°) 5 ÉdA vÅ Éd äè_ WIDM*Ç
‫تداول‬
.aÑUÇ Çc bF Uë u (±µ) dA W L æuC v ÏÇb Ç Çc rè
±±· ²°²² WM
dÇ Ébd'Ç
6) CONTRACTOR shall pay to EGPC the sum of one hundred

thousand U.S. Dollars ($100,000) as a cumulative production
bonus when the total cumulative production from the Area rst
reaches the rate of one MMBOE (1,000,000) or equivalent,
Payment will be made within fteen (15) days thereafter.
7) CONTRACTOR shall pay to EGPC the sum of two hundred
reaches the rate of two MMBOE (2,000,000) or equivalent,
8) CONTRACTOR shall pay to EGPC the sum of three hundred
reaches the rate of four MMBOE (4,000,000) or equivalent,
‫صورة إ‬
9) CONTRACTOR shall pay to EGPC the sum of four hundred
‫لك‬
‫تروني‬
reaches the rate of six MMBOE (6,000,000) or equivalent,
10) CONTRACTOR shall pay to EGPC the sum of ve hundred
‫ة ال يع‬
‫تد بها‬
reaches the rate of eight MMBOE (8,000,000) or equivalent,

11) CONTRACTOR shall pay to EGPC the sum of one million U.S.
‫عند ا‬
Dollars ($1,000,000) as a cumulative production bonus when the

total cumulative production from the Area rst reaches the rate of
‫ل‬
ten MMBOE (10,000,000) or equivalent, Payment will be made

‫تداول‬
within fteen (15) days thereafter.

²°²² WM
dÇ Ébd'Ç ±±¸
Uë GK ¬YÇ ÊÇd s Éd éÃ ÁUMÃ WOU WM

q WÇb v WONK äèUI*Ç lb (±²
WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (µ°[°°°) nÃ 5 L çÑbè
äU v qLF vÇ ÊÇÑÇÏÇ s WONÇ vHu VÑb hB VÑb WML
.WdA*Çè WOM_Ç ÊUdAÇ vK WUdÇè ÌUÇè áUAJ
Çè ÊUOUHÇ
Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (µ°[°°°) nÃ 5 L Uë CÃ äèUI*Ç lbè
éd _Ç ÊÇÑÇÏÇ s WONÇ vHu VÑb hB VÑb WML WOJd_Ç
Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (±°°[°°°) nÃ WzU çÑbè mK vULS
.WOJd_Ç
Uë GK ¬WOLMÇ ÊÇd s Éd éÃ ÁUMÃ WOU WM
q WÇb v WONK äèUI*Ç lb (±³
WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (µ°[°°°) nÃ 5 L çÑbè
äU v qLF vÇ ÊÇÑÇÏÇ s WONÇ vHu VÑb hB VÑb WML
.WdA*Çè WOM_Ç ÊUdAÇ vK WUdÇè ÌUÇè áUAJ
Çè ÊUOUHÇ
Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (µ°[°°°) nÃ 5 L Uë CÃ äèUI*Ç lbè
‫صورة إ‬
éd _Ç ÊÇÑÇÏÇ s WONÇ vHu VÑb hB VÑb WML WOJd_Ç
Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (±°°[°°°) nÃ WzU çÑbè mK vULS
.WOJd_Ç
‫لك‬
‫تروني‬
.äÇu_Ç s äU éQ UÏÇÏd
Ç äèUILK Òu UNOÅ ÉÑUÇ oU Ç `M*Ç lOL (È)
‫ة ال يع‬
WOu *Ç åUJ_ Uë Iè WIDM*Ç s Áe éÃ vLM æÃ WONÇ ÊÑU Ç ÇÐÅ U WU v (Ì)
WÏÇdHÇ WOu *Ç WU s ÌUÇ æS ¬(´) (Ì) WUÇ ÉÏU*Ç v ÉÏÑÇuÇ WÏÇdHÇ
v tI äèUI*Ç ÓÑU ÇÐÅ Å WF
UÇ ÉÏU*Ç çc ÖÇd_ æU (Ç v c R s çc
‫تد بها‬
.WÑUA*Ç pK Áb aÑU s jI pÐ æuJè ¬ÌUÇ Çc v WÑUA*ÇÑUO Ç
Uë Iè WIDM*Ç s vuOÇ ÌUÇ j
u ÙuL bb% ÖÇd_ æU (Ç v ÒUGÇ c R (Ï)
‫عند ا‬
qOÇd vÅ Uë Ou rK *Ç ÒUGÇ qu pÐè (¹) vÅ (´) s ÊÇdIHÇ WF
UÇ ÉÏULK
: WOÇ WÏUFLK Uë Iè Uë Ou ZM*Ç åU)Ç XeÇ s WUJ
‫ل‬
‫تداول‬
.åU)Ç XeÇ s WUJ*Ç qOÇdÇ = °[±¶· X àX v

UO VFJ åb ±°°°
±±¹ ²°²² WM
dÇ Ébd'Ç
12) CONTRACTOR shall pay to EGPC at the beginning of every

Financial Year during any of the Exploration periods an amount
equal to fty thousand U.S.Dollars ($50,000) as a training
bonus for the training of EGPC employees in departments of
Agreements, Exploration, Production and Financial Control
Foreign and Joint Venture companies. CONTRACTOR shall
also pay fty thousand U.S. Dollars ($50,000) as a training bonus
for the training of EGPC employees from other departments with
a total amount of one hundred thousand U.S.Dollars ($100,000).
13) CONTRACTOR shall pay to EGPC at the beginning of every
Financial Year during any of the Development periods an amount
equal to fty thousand U.S.Dollars ($50,000) as a training
bonus for the training of EGPC employees in departments of
Agreements, Exploration, Production and Financial Control
Foreign and Joint Venture companies. CONTRACTOR shall
‫صورة إ‬
also pay fty thousand U.S. Dollars ($50,000) as a training bonus
for the training of EGPC employees from other departments with
a total amount of one hundred thousand U.S.Dollars ($100,000).
‫لك‬
(b) All the above mentioned bonuses shall in no event be recovered by
‫تروني‬
CONTRACTOR.
(c) In the event that EGPC elects to develop any part of the Area pursuant
‫ة ال يع‬
to the sole risk provisions of Article III (c) (iv), production from such
sole risk area shall be considered for the purposes of this Article IX only
if CONTRACTOR exercises its option to share in such production,
‫تد بها‬
and only from the initial date of sharing.

(d) Gas shall be taken into account for purposes of determining the total
‫عند ا‬
average daily production from the Area under Article IX (4-9) by

converting daily Gas delivered into equivalent Barrels of daily Crude
‫ل‬
Oil production in accordance with the following formula:

‫تداول‬
MSCF x H x 0.167 = equivalent Barrels of Crude Oil.

²°²² WM
dÇ Ébd'Ç ±²°
:ϥ΃ ΙϳΣ
.ÒUGÇ s v
UO VFJ åb nÃ = v
UO VFJ åb ±°°°
VFJ åb ±°°° qJ u v v åÅ åÅ) WOUDd WÑÇd Ébè æuOK Ïb = à
.(w
UO
…dUF« …œU*«
Ε΍έΎρΧϹ΍ ώϳϠΑΗϭ ΏΗϛϣϟ΍ έϘϣ
ÇÐÅ Uë O ÊÇÑUD U tGOK æuJè .Ù.å.Ì v Uë J t c æÃ äèUI*Ç vK 5F
.VJ*Ç Çc vÅ XK
ÑÃ
vK ÇcHM vJ WOU ÊUDK åUFÇ db*Ç VzUè åUFÇ db*Ç Ïèe æÃ äèUI*Ç vK V
çc ÏuM Uë Iè UNOK2 èÃ WuJ(Ç s ULNOÅ ÉÑÏUBÇ WuJ*Ç WOK;Ç ÊUNOuÇ WU ÑuHÇ
WÇè æuJè ¬bF ULO ÑbB vÇ èÃ WLzUIÇ WOuUIÇ `zÇuKÇ q oD æÃ Vè .WOUHÇ
VzUè åUFÇ db*Ç WDAÃè ÊUÇè vK ¬UNF ÖÑUF è WOUHÇ çc q v oODÇ
‫صورة إ‬
.åUFÇ db*Ç
èÃ åUFÇ db*Ç VJ v XLK
ÇÐÅ Uë O Uë Å WMKF dF ÊÇÑUD Çè Ñu_Ç lOLè
‫لك‬
..Ù.å.Ì v äèUI*Ç VJ æÇuM vK q *Ç bdU tOÅ XK
ÑÃï ÇÐÅ
‫تروني‬
écOHMÇ fOzdÇ VJ v XLK
ÇÐÅ Uë O Uë Å WMKF dF ÊÇÑUD Çè Ñu_Ç WUè
.ÉdUIÇ v WONK v OzdÇ VJ*Ç æÇuM vK q *Ç bdU tOÅ XK
ÑÃï ÇÐÅ èÃ WONK
‫ة ال يع‬
dA WœU(« …œU*«

ΓέΎγΧϟ΍ ˯έΩϭ ϝϭέΗΑϟ΍ ϰϠϋ ΔυϓΎΣϣϟ΍
‫تد بها‬
WuI*Ç âdDK Uë Iè WÒÇ ÊÇÁÇdÇ WU c æÃ ÊUOKLFU WLzUIÇ WdAÇ vK (Ã)
X% èÃ âu tUO{ èÃ äèdÇ bI lM* ÒUGÇè XeÇ WUM v WF*Çè WU WHB
‫عند ا‬
èÃ lÒuÇ èÃ lOLÇ èÃ ÌUÇ èÃ dH(Ç ÊUOKL ÁUMÃ qJ éÃ vK ÖÑ_Ç `D
ÓU
Ã vK ÁUM ¬XFu ÇÐÅ d WÃ vK WOKL WÃ lM9 æÃ v o(Ç WuJKè .seÇ
‫ل‬
‫تداول‬
.ÒUGÇ èÃ XeÇ qI èÃ dK nK èÃ ÉÑU vÅ éÏR áu

WOKLFÇ çc æÃ ¬äuIF
±²± ²°²² WM
dÇ Ébd'Ç
Where:
MSCF = one thousand Standard Cubic Feet of Gas.
H = the number of million British Thermal Units (MMBTU)
per MSCF.
ARTICLE X
OFFICE AND SERVICE OF NOTICES
CONTRACTOR shall maintain an ofce in A.R.E. at which notices shall
be validly served.
The General Manager and Deputy General Manager shall be entrusted
by CONTRACTOR with sufcient power to carry out immediately all
local written directions given to them by the GOVERNMENT or its
representatives under the terms of this Agreement. All lawful regulations
issued or hereafter to be issued which are applicable hereunder and not in
conict with this Agreement shall apply to the duties and activities of the
General Manager and Deputy General Manager.
‫صورة إ‬
All matters and notices shall be deemed to be validly served which are
delivered to the ofce of the General Manager or which are sent to him by
registered mail to CONTRACTOR’s ofce in the A.R.E. . ‫لك‬
‫تروني‬
All matters and notices shall be deemed to be validly served which are
delivered to the ofce of the Chief Executive Ofcer of EGPC or which
are sent to him by registered mail at EGPC's main ofce in Cairo.
‫ة ال يع‬
ARTICLE XI
SAVING OF PETROLEUM AND PREVENTION OF LOSS
‫تد بها‬
(a) Operating Company shall take all proper measures, according to

generally accepted methods in use in the Oil and Gas industry to
prevent loss or waste of Petroleum above or under the ground in
‫عند ا‬
any form during drilling, producing, gathering, and distributing or

storage operations. The GOVERNMENT has the right to prevent any
‫ل‬
‫تداول‬
operation on any well that it might reasonably expect would result in

loss or damage to the well or the Oil or Gas eld.
²°²² WM
dÇ Ébd'Ç ±²²
WuJ(Ç ÑUD S ÊUOKLFU WLzUIÇ WdAÇ åuI ¬WM d dH äULJ
Ç bM (È)
s oIÇè dÇ ÑU Ç bu s "WObF*Ç ÉèdÇè äèdÇ dÒè /bO Ç" UNK2 èÃ
.UNUÅ äbF
v ÉÏbF WM ÊUMuJ s ÌUÇ Uë ÏUBÅ UNO sJ1 vÇ ÊU(Ç ÁUM
U (Ì)
ÊUI s äèdÇ ÌUÅ Òu tS dO
Çu*Ç s bÇè ÏuL äULF
U Å dÇ ÊÇÐ
äuB(Ç bF Å bÇè Xè v dO
Çu*Ç s bÇè ÏuL äULF
U XeK WKU ÉÏbF
.WuIF dO ÈU
_ UN V vÇè UNK2 èÃ WuJ(Ç s WI WIÇu vK
çUO*Çè äèdÇ ÊUOLJ WU)Ç ÊUUOÇ q æÃ ÊUOKLFU WLzUIÇ WdAÇ vK (Ï)
UNK2 èÃ WuJ(Ç vÅ ÊUUOÇ çc q
dè .WOLM bI q s Uë dN ZM vÇ
aÑU s Uë u (³°) 5 ä pÐè ÖdGÇ ÇcN ÉbF*Ç WU)Ç ÊÇÑUL
Ç vK
ÌUU WU)Ç WOu
_Ç èÃ WOuOÇ ÊUOzUBÇ UÃ .ÊUUOÇ çc vK äuB(Ç
vK2 WdF0 WuIF*Ç ÊUè_Ç lOL v hHK ÉeU æuJ æÃ VO WIDM*Ç s
‫صورة إ‬
.5{uH*Ç WuJ(Ç
WÇÏ ÑUÇ q WOUOÇ ÊUu
dÇè dH(Ç s Uë Ou WK *Ç ÊUUOÇ æuJ æÃ 5F (à)
‫لك‬
ÊUIDÇ WUOB dÇ v WKLF éd Ã ÏÇu WÃ WOL vKè XML
_Ç Ùuè WOL vK
‫تروني‬
.WcFÇ çUO*Ç èÃ ÊÇÒUGK WKU(Ç èÃ WOèdÇ
Uë F{U æuJ æÃ V UNULÅ bF dK WOJOUJO*Ç áèdEÇ v édu dOOG éÃ (è)
‫ة ال يع‬
.WuJ(Ç q2 WIÇu*

‫تد بها‬
dA WOU« …œU*«

ΔϳϛέϣΟϟ΍ Ε΍˯ΎϔϋϹ΍
‫عند ا‬
s æuHFè ÌÑU)Ç s ÏÇdO

U ÊUOKLFU WLzUIÇ WdAKè äèUILKè WONK `L (Ã)
Vu0 ÉÑdI*Ç ÈUF_Ç pÐ v U0) ÈUFÃ èÃ åu
Ñ èÃ VzÇd{ WÃ èÃ WOdL'Ç åu
dÇ
‫ل‬
‫تداول‬
èÃ WOU(Ç tbF WOU*Ç dÒè s ÑÏUBÇ ±¹¹³ WM ²µ´ rÑ éÑÇÒuÇ ÑÇdIÇ
±²³ ²°²² WM
dÇ Ébd'Ç
(b) Upon completion of the drilling of a productive well, Operating

Company shall inform the GOVERNMENT or its representative "The
Minister of Petroleum and Mineral Resources" of the time when the
well will be tested and the production rate ascertained.
(c) Except in instances where multiple producing formations in the same
well can only be produced economically through a single tubing
string, Petroleum shall not be produced from multiple Oil bearing
zones through one string of tubing at the same time, except with the
prior approval of the GOVERNMENT or its representative, which
shall not be unreasonably withheld.
(d) Operating Company shall record data regarding the quantities of
Petroleum and water produced monthly from each Development Lease.
Such data shall be sent to the GOVERNMENT or its representative
on the special forms provided for that purpose within thirty (30) days
‫صورة إ‬
after the data are obtained. Daily or weekly statistics regarding the
production from the Area shall be available at all reasonable times for
examination by authorized representatives of the GOVERNMENT.
‫لك‬
(e) Daily drilling records and the graphic logs of wells must show the
‫تروني‬
quantity and type of cement and the amount of any other materials
used in the well for the purpose of protecting Petroleum, Gas bearing
‫ة ال يع‬
or fresh water strata.
(f) Any substantial change of mechanical conditions of the well after its
completion shall be subject to the approval of the representative of the
‫تد بها‬
GOVERNMENT.
ARTICLE XII
‫عند ا‬
CUSTOMS EXEMPTIONS
(a) EGPC, CONTRACTOR, and Operating Company shall be permitted to
‫ل‬
‫تداول‬
import and shall be exempted from customs duties, any taxes, levies or
fees (including fees imposed by Ministerial Decision No. 254 of 1993
²°²² WM
dÇ Ébd'Ç ±²´
WU)Ç WÏÇdO
Ç bÇuIÇ sè ¬Ùu éÃ s (ÊÇÑÇd s tK q Uè WOKI *Ç
éd è) äUIÇè qIMÇ qzU
èè ÏÇu*Çè ÊULN*Çè ÉeN_Çè ÊÇbF*Çè ÊÇ ÏÇdO
U
v Wb *Ç ÊÇÑUO K Wà MU ÊÇÑUO Ç vK åu
dÇè VzÇdàààCÇ s ÁUàHÇ
ÊUAMè sU *è VUJLK nOOJÇ ÉeNÃè WOzUdNJÇ ÉeN_Çè (jI ÊUOKLFÇ
WÒÇ ÑUOGÇ lD pcè vÇ V
U(Ç ZÇdè ÊÇbFè WOèdJÇ ÉeN_Çè qI(Ç
äu *Ç qL*Ç s ÉbLF ÉÏUN .bI ×dA tK pÐè ÉÏÑu *Ç ÁUO_Ç çc s é_
cOHM WÒ ÉÏÑu *Ç ÁUO_Ç æÃ vK hM vÇè ¬ÖdGÇ ÇcN WONÇ s 5F*Ç
Uë OzUIK UNM ZMè WeKè WOzUN ÉÏUNAÇ çc æuJè .WOUHÇ çcN Uë Iè ÊUOKLFÇ
.éd Ã ÊÇÁÇdÅ èÃ dO Q èÃ ÊUIÇu WÃ æèb ÁUHÇ Çc l ÏÇdO
Ç
qIMÇ qzU
èè ÉeN_Çè ÊÇbF*Çè ÊÇ s XR*Ç ÌÇdÇ åUE X% ÌÇdÇ r (È)
ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè WONÇ vèUI WdF0 ÏÑu vÇ äUIÇè
‫صورة إ‬
ÊUOKLFK Uë Iè WDAÃ éÃ v WR WHB UNÇb
Ç r vÇ s UÇ s rNOèUIè
v U0) ÈUFÃ èÃ åu
Ñ èÃ VzÇd{ WÃ èÃ WOdL åu
Ñ ÏÇb
æèÏ WOUHÇ çc Ùu{u
WOU*Ç dÒè s ÑÏUBÇ ±¹¹³ WM ²µ´ rÑ éÑÇÒuÇ ÑÇdIÇ Vu0 ÉÑdI*Ç ÈUF_Ç pÐ
‫لك‬
‫تروني‬
.bI bF pÐè Ùu éÃ s (ÊÇÑÇd s tK q Uè WOKI *Çè WOU(Ç tbF
ÉÏÑu *Ç ÁUO_Ç æQ ÖdGÇ ÇcN WONÇ tMOF äu q2 s Uë uU ÉbLF ÉÏUN
‫ة ال يع‬
ÉdIHÇ v UNOK ÕuBM*Ç ÁUO_Ç UÃ .WOUHÇ çcN UIè ÊUOKLFU åUOIK WÒ
(ÊUOKLFÇ v Wb dOGÇ ÈudÇ ÊÇÑUO
Çb ULO) dA WOUÇ ÉÏU*Ç s (Ã)
‫تد بها‬
s rNOèUIè ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè WONÇ vèUI WdF0 ÏÑu vÇ
UNN
Ç èÃ WLzÇÏ WHB UNÇb
Ç èÃ UNOd ÖdG UNOÅ ÑUA*Ç ÊUOKLFK s UÇ
‫عند ا‬
.bI bF pÐè dA WOUÇ ÉÏU*Ç s (Ã) ÉdIHU ÉÏÑÇuÇ ÁUHÇ ×èd UNOK oDMO
v äULF
WÒ ÁUO_Ç çc æQ WONU äu q2 sààà Uë uU ÉbLF ÉÏUN
‫ل‬
‫تداول‬
.WOUHÇ çcN Uë Iè ÊUOKLFÇ

±²µ ²°²² WM
dÇ Ébd'Ç
issued by the Minister of Finance, as now or hereafter amended

or substituted) of any nature and from the importation rules with
respect to the importation of machinery, equipment, appliances,
materials, items, means of transport and transportation (the exemption
from taxes and duties for cars shall only apply to cars to be used in
operations), electric appliances, air conditioners for ofces, eld
housing and facilities, electronic appliances, computer hardware and
software, as well as spare parts required for any of the imported items,
all subject to a duly approved certicate issued by the responsible
representative nominated by EGPC for such purpose, which states
that the imported items are required for conducting the operations
pursuant to this Agreement . Such certicate shall be nal and binding
and shall automatically result in the importation and the exemption
without any further approval, delay or procedure.
(b) Machinery, equipment, appliances and means of transport and
transportation imported by EGPC's, CONTRACTOR's and Operating
‫صورة إ‬
Company's contractors and sub-contractors temporarily engaged in
any activity pursuant to the operations which are the subject of this
Agreement, shall be cleared under the "Temporary Release System"
‫لك‬
without payment of customs duties, any taxes, levies or fees (including
‫تروني‬
fees imposed by Ministerial Decision No. 254 of 1993 issued by the
Minister of Finance, as now or hereafter amended or substituted) of
any nature, upon presentation of a duly approved certicate issued
‫ة ال يع‬
by an EGPC responsible representative nominated by EGPC for
such purpose which states, that the imported items are required
for conducting the operations pursuant to this Agreement. Items
‫تد بها‬
(excluding cars not to be used in operations) set out in Article XII (a)
imported by EGPC's, CONTRACTOR's and Operating Company’s
contractors and sub-contractors for the aforesaid operations, in
‫عند ا‬
order to be installed or used permanently or consumed shall meet

the conditions for exemption set forth in Article XII (a) after being
‫ل‬
‫تداول‬
duly certied by an EGPC responsible representative to be used for

conducting operations pursuant to this Agreement.
²°²² WM
dÇ Ébd'Ç ±²¶
rNOèUIè ÊUOKLFU WLzUIÇ WdAÇè äèUILK æuFUÇ VU_Ç æuHu*Ç lL (Ì)
åu
dÇè VzÇdCÇ s UdOè WOdL'Ç åu
dÇ s ÊÇÁUHÅ WQ s UÇ s rNOèUIè
ÌdH ¬pÐ lè .Ù.å.Ì v WID*Ç `zÇuKÇè 5ÇuIÇ åUJÃ Ïèb v Å UN WIK*Ç
[(±) ÉbÇè ÉÑUO
pÐ v U0 ] vBAÇ äULF
ËU_Çè WOeM*Ç ÊULN*Ç s
pÐè ULNM é_ lU èÃ ÊUOKLFU WLzUIÇ WdAÇè äèUILK lU vMÃ nu qJ
(UN WIK*Ç VzÇdCÇ s UdOè WOdL åu
Ñ WÃ lÏ æèb) XR*Ç ÌÇdÇ åUE Vu0
äu q2 s bLF ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç s ÈUD .bI vCI0
ÊÏÑu
Ç ÉÏÑu *Ç ÁUO_Ç æÃ vK hM WB*Ç WOdL'Ç ÊUDK Ç vÅ WONÇ s
áu
ÉÏÑu *Ç ÁUO_Ç çc æÃè td
Ãè vM_Ç nuLK vBAÇ äULF
Ç Ïd*
.wMF*Ç vM_Ç nu*Ç qOÑ bM .Ù.å.Ì ÌÑU vÅ UdbB ÏUF
dbB ÉÏUÅ ¬äuIF Ñd æèÏ V% s vÇ WIÇu*Ç vè ¬WONÇ WIÇu bF ¬Òu (Ï)
åu
dÇ s nF r èÃ XOHÃ b XU ÁÇu
.Ù.å.Ì vÅ ÊÏÑu
Ç vÇ ÁUO_Ç
v pÐè WOUHÇ çc åUJ_ Uë I UN WIK*Ç åu
dÇè VzÇdCÇ s UdOè WOdL'Ç
‫صورة إ‬
tÃ èÃ dbB åu
Ñ WÃ UNOK o æÃ æèÏ UÏÑu
Ç écÇ ádDÇ WdF0 Xè éÃ
UL .UNM XOHÃ b ÁUO_Ç çc XU WID åu
Ñ èÃ VzÇd{ WÃ èÃ åu
Ñ èÃ VzÇd{
‫لك‬
s vÇ WIÇu*Ç vè WONÇ WIÇu vK äuB(Ç bF .Ù.å.Ì v ÁUO_Ç çc lO Òu
‫تروني‬
åu
dÇ lOL ÏÇb ÁUO_Ç çc édA åeK WU(Ç çc vè .äuIF Ñd æèÏ V%
Wè UNLOè UNU( Uë Iè UN WIK*Ç åu
dÇè VzÇdCÇ s UdOè WÑU Ç WOdL'Ç
‫ة ال يع‬
vÅ XFO b ÁUO_Ç çc sJ r U pÐè lOÇ aÑU v WÑU Ç WOdL'Ç WHdFÇ
çc WOJK sJ r èÃ ÁUHÇ fHM WFLè WONÇ èÃ ¬Êbè æÅ ¬äèUILK WFU Wd
‫تد بها‬
.WONÇ vÅ XKIÇ b (ÊUOKLFÇ v WKLF dOGÇ ÊÇÑUO Ç Çb) ÁUO_Ç

ÙÒu (Ï) ÉdIHÇ çc v tOÅ ÑUA*Ç uMÇ vK ÙuMÇ Çc s lO éÃ ÁÇdÅ WU vè
‫عند ا‬
-:wUÇ uMÇ vK lOÇ Çc ÊB

be U lbè ¬bè æÅ ¬ÁUO_Ç çc nOUJ s çÏd r U ÏÇÏd
Ç äèUI*Ç o
‫ل‬
‫تداول‬
.WONÇ vÅ ¬bè æÅ ¬pÐ vK

±²· ²°²² WM
dÇ Ébd'Ç
(c) The expatriate employees of CONTRACTOR, Operating Company

and their contractors and sub-contractors shall not be entitled to any
exemptions from customs duties and other ancillary taxes and charges
except within the limits of the provisions of the laws and regulations
applicable in the A.R.E.. However, personal household goods and
furniture (including one (1) car) for each expatriate employee of
CONTRACTOR and/or Operating company shall be cleared under
the "Temporary Release System" (without payment of any customs
duties and other ancillary taxes) upon presentation of a letter to the
appropriate customs authorities by CONTRACTOR or Operating
Company approved by an EGPC responsible representative that
the imported items are imported for the sole use of the expatriate
employee and his family, and that such imported items shall be re-
exported outside the A.R.E. upon the repatriation of the concerned
expatriate employee.
(d) Items imported into the A.R.E. whether exempt or not exempt from
customs duties and other ancillary taxes and charges hereunder,
‫صورة إ‬
may be exported by the importing party at any time after obtaining
EGPC’s approval, which approval shall not be unreasonably withheld,
without any export duties, taxes or charges or any taxes or charges
‫لك‬
from which such items have been already exempt, being applicable.
‫تروني‬
Such items may be sold within the A.R.E. after obtaining the approval
of EGPC which approval shall not be unreasonably withheld. In this
event, the purchaser of such items shall pay all applicable customs
‫ة ال يع‬
duties and other ancillary taxes and charges according to the condition
and value of such items and the tariff applicable on the date of sale,
unless such items have already been sold to an Afliated Company
‫تد بها‬
of CONTRACTOR, if any, or EGPC, having the same exemption, or

unless title to such items (excluding cars not used in operations) has
passed to EGPC.
‫عند ا‬
In the event of any such sale under this paragraph (d), the proceeds
from such sale shall be divided in the following manner:
‫ل‬
CONTRACTOR shall be entitled to reimbursement of its unrecovered

‫تداول‬
cost, if any, in such items and the excess, if any, shall be paid to EGPC.
²°²² WM
dÇ Ébd'Ç ±²¸
ÁUOÃ WÃ vKdA WOUÇ ÉÏU*Ç s (Ã) ÉdIHÇ v tOK ÕuBM*Ç ÁUHÇ éd (à)
ZM U2 ÉÏuè Uë HM dO b vÅ WNUA èÃ WNUA dzUE UN XU ÇÐÅ ÉÏÑu
ULNM éÃ èÃ ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç ÊUHÇu UNO dÇu vÇè Uë OK
ë O V
UM*Ç XuÇ v UN
Çè UÄÇd æuJè æU_Çè ÉÏuK W MU
.Ù.å.Ì v ÇÑu
WU{Å q ÏÑu *Ç ÁvAÇ WHKJ s (¥±°) WzU*Ç v ÉdA sdQ be dF
.bè æÅ ¬5QÇè æuuMÇ nOUJ WU{Å bF sJè WOdL'Ç åu
dÇ
WIDM*Ç s ZM*Ç äèdÇ dbB v o(Ç ULNM éÃ s sdA*Çè WONÇè äèUILK æuJ (è)
éÃ èÃ VzÇd{ èÃ WOdL åu
Ñ éÃ s äèdÇ Çc ÁUHÅ l ¬WOUHÇ çcN Uë Iè
.WOUHÇ çcN Uë Iè äèdÇ dbB WIKF éd Ã åu
Ñ èÃ izÇd
dA WU« …œU*«
ΕΎϋϭϓΩϣϟ΍ϭ ΔΑγΎΣϣϟ΍ – ΕΎΑΎγΣϟ΍ έΗΎϓΩ
‫صورة إ‬
VUJ v ÊUU dUÏ p 0 ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè WONÇ s q åuI (Ã)
ÙU{è Uë Ièè "à" oK*Ç v 5*Ç v
U;Ç åUEMK Uë Iè pÐè .Ù.å.Ì v UNKL
‫لك‬
dUbÇ p 9 pcè ¬äèdÇ WUM v WU WHB UN äuLF*Çè WuI*Ç WO
U;Ç
‫تروني‬
v U0 ¬WOUHÇ çc vCI0 äULÃ s cHM U Ò{u WÒÇ Ê Çè éd _Ç
äèUI*Ç p 1è ¬WOUHÇ çc vCI0 t kH;Çè ZM*Ç äèdÇ q WLOè WOL pÐ
‫ة ال يع‬
ë
ÊÇÑèb ÈU (Ç UNO ÇbOI ULNUU Ê
è dUÏ ÊUOKLFU WLzUIÇ WdAÇè
.WOJd_Ç Éb*Ç ÊUuÇ
‫تد بها‬
äèdÇ WOL `{u ÊUUO UNK2èÃ WuJK Uë dN ÊUOKLFU WLzUIÇ WdAÇ åbIè
tKD écÇ qJAU ÊUUOÇ çc bFè ¬WOUHÇ çc vCI0 t kH;Çè ZM*Ç
‫عند ا‬
ÖuH d Â ÈèbM éÃ èÃ åUFÇ db*Ç VzU èÃ åUFÇ db*Ç UNOK luè UNK2 èÃ WuJ(Ç
tODG écÇdNAÇ WUN s Uë u (³°) 5 ä UNK2 èÃ WuJK rK è ¬pÐ v
‫ل‬
‫تداول‬
.ÊUUOÇ çc
±²¹ ²°²² WM
dÇ Ébd'Ç
(e) The exemption provided for in Article XII (a) shall not apply to any
imported items when items of the same or substantially the same kind
and quality are manufactured locally meeting CONTRACTOR’s and/
or Operating Company's specications for quality and safety and are
available for timely purchase and delivery in the A.R.E. at a price not
higher than ten percent (10%) of the cost of the imported item, before
customs duties but after freight and insurance costs, if any, have been
added.
(f) CONTRACTOR, EGPC and their respective buyers shall have the
right to export the Petroleum produced from the Area pursuant to this
Agreement and such Petroleum shall be exempted from any customs
duties, any taxes, levies or any other imposts in respect of the export
of Petroleum hereunder.
ARTICLE XIII
BOOKS OF ACCOUNT: ACCOUNTING AND PAYMENTS
‫صورة إ‬
(a) EGPC, CONTRACTOR and Operating Company shall each maintain
at their business ofces in the A.R.E. books of account, in accordance
with the Accounting Procedure in Annex "E" and accepted accounting
‫لك‬
practices generally used in the Petroleum industry, and such other
‫تروني‬
books and records as may be necessary to show the work performed
under this Agreement, including the amount and value of all Petroleum
produced and saved hereunder. CONTRACTOR and Operating
‫ة ال يع‬
Company shall keep their books of account and accounting records in
United States Dollars.
Operating Company shall furnish to the GOVERNMENT or its
‫تد بها‬
representatives monthly returns showing the amount of Petroleum

produced and saved hereunder. Such returns shall be prepared in the
‫عند ا‬
form required by the GOVERNMENT, or its representative and shall

be signed by the General Manager or by the Deputy General Manager
or a duly designated deputy and delivered to the GOVERNMENT or
‫ل‬
‫تداول‬
its representative within thirty (30) days after the end of the month
covered in the returns.
²°²² WM
dÇ Ébd'Ç ±³°
æÃ V tOUF UNOÅ ÑUA*Ç Ê Çè dUbÇ s UdOè Uë HÂ ÉÑuc*Ç ÊUU (Ç dUÏ (È)
.WuJ(Ç s 5{uH*Ç 5èbM*Ç WdF0 hHK W
UM*Ç ÊUè_Ç lOL v ÉeU æuJ
v t WU)Ç WOdCÇ WM Ç s dzU )Çè ÍUÑ_Ç ÈU Uë UO WONK äèUI*Ç åbI (Ì)
vU tO `{u WOUÇ WOdCÇ WM Ç Áb bF dNÃ (´) WFÑÃ ÒèU bu
çc Vu0 WOèdÇ ÊUOKLFÇ s 5&UMÇè WOdCÇ WM Ç pK s tÑU èÃ tÑ
.WOUHÇ
¬WOdCÇ WM Ç ÊÇc åUFÇ d Â WOÇeO tÇÐ XuÇ v WONÇ vÅ äèUI*Ç åbIè
.bLF édB v
U VJ s WOU*Ç ÊÇÑÇdÇè WOÇeO*Ç bLFè
dA WF«d« …œU*«
εϳΗϔΗϟ΍ϭ έϳέΎϘΗϟ΍ϭ ΕϼΟγϟ΍
äÇu ÊUè_Ç lOL v ULNÃ èÃ ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç kHè bF (Ã)
‫صورة إ‬
¬WIDM*Ç v WÑU'Ç ÊUOKLFÇ UNO bOI WIOÏ Ê WOUHÇ çc æUd
Éb
Uë Iè UNK2 èÃ WuJ(Ç vÅ ¬Uë uM
ULNÃ èÃ ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç q
dè
ë
WUJ ë BH ÇddI ‫لك‬
¬äèdÇ WUM v WOd*Çè WLOK Ç äu Uë Ièè WÑU Ç `zÇuK
‫تروني‬
UNUOKLF WU)Çè WM Ç ä UNFOL& - vÇ ÊÇdO HÇè WOMHÇ ÊUuKF*Çè ÊUUOÇ
UNOÅ ÑUA*Ç åUN*Ç ÁÇÏQ ÊUOKLFU WLzUIÇ WdAÇ åuIè .WOUHÇ çc vCI0 WÑU'Ç
‫ة ال يع‬
.W
ÏU Ç ÉÏU*Ç v Ïb u UL UÑèb Uë Iè dA WFÇdÇ ÉÏU*Ç çc v
Áe WuIF WOMÒ Éb* ULNÃ èÃ ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç kHè e (È)
‫تد بها‬
ÑUÇ dH s Wd *Ç dH(Ç ÊUMO sè WOÇuD

_Ç ÊUMOFÇ s WMO q q1
UÇd vÇ WIdDU ULNÃ vÅ UN1bI èÃ UNK2 èÃ WuJ(Ç WdF0 UNO ádBK pÐè
‫عند ا‬
èÃ ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç UNOK qB vÇ ÊUMOFÇ lOLè .WuJ(Ç
WdF0 V
UM Xè éÃ v UNOK gOHK ÉeU dF ULN WU)Ç ULN{Çd_ ULNÃ
‫ل‬
‫تداول‬
.UNOK2 èÃ WuJ(Ç
±³± ²°²² WM
dÇ Ébd'Ç
(b) The aforesaid books of account and other books and records referred to
above shall be available at all reasonable times for inspection by duly
authorized representatives of the GOVERNMENT.
(c) CONTRACTOR shall submit to EGPC a Prot and Loss Statement of
its Tax Year not later than four (4) months after the commencement of
the following Tax Year to show its net prot or loss from the Petroleum
operations under this Agreement for such Tax Year.
CONTRACTOR shall at the same time submit a year-end Balance
Sheet for the same Tax Year to EGPC. The Balance Sheet and nancial
statements shall be certied by an Egyptian certied accounting rm.
ARTICLE XIV
RECORDS, REPORTS AND INSPECTION
(a) CONTRACTOR and/or Operating Company shall prepare and, at
all times while this Agreement is in force, maintain accurate and
current records of its operations in the Area. CONTRACTOR and/
‫صورة إ‬
or Operating Company shall furnish the GOVERNMENT or its
representative on annual basis, in conformity with applicable
regulations and in accordance with sound and accepted Petroleum
‫لك‬
industry practices a detailed report of all data, technical information
‫تروني‬
and interpretations collected during the year, concerning its operations
under this Agreement. Operating Company will perform the functions
‫ة ال يع‬
indicated in this Article XIV in accordance with its role as specied
in Article VI.
(b) CONTRACTOR and/or Operating Company shall save and keep for
‫تد بها‬
a reasonable period of time a representative portion of each sample

of cores and cuttings taken from drilling wells, to be disposed of,
or forwarded to the GOVERNMENT or its representative in the
‫عند ا‬
manner directed by the GOVERNMENT. All samples acquired by

CONTRACTOR and/or Operating Company for their own purposes
‫ل‬
shall be considered available for inspection at any reasonable time by

‫تداول‬
the GOVERNMENT or its representatives.

²°²² WM
dÇ Ébd'Ç ±³²
rOK dbBÇ Çc q 5F tS .Ù.å.Ì ÌÑU Wd ÊUMO WÃ dbB WU v (Ì)
WONÇ oÇu r U pÐè) ¬WuJK ë 2 UNHu WONÇ vÅ Uë uè Uë L UN qO
.(pÐ á vK
q_U ØUHÇ ×dA ¬WONÇ s `dB Å ÊO Ç äuÃ dbB Òu (Ï)
ÌUÇè áUAJ
dB WÇu éb ÊUUOÇ pK s q qU2 qO èÃ
ë .Ù.å.Ì vÅ W'UF*Ç/WOK_Ç ÊUUOÇ çc ÏUF æÃ ×dAè .Ù.å.Ì v ¬(EUG)
ÇÑu
.WONK WuK2 UNÃ ÑUS qOKÇ èÃ W'UF*Ç çc VI
WONÇ vHu èÃ vKL* æuJ ¬YÇ ÊUOKLF UNzUMÃ v äèUI*Ç åuI vÇ Éb*Ç ä (à)
ÊUè_Ç lOL v pÐè qUJU WIDM*Ç ÁÇeÃ WU vÅ äu bÇ v o(Ç 5{uH*Ç
Ê Çè äu_Ç WU hè WÑU'Ç ÊUOKLFÇ WÇd v o(Ç rNKu l W
UM*Ç
pK t
ÑU2 ÁUMÃ WONÇ q2 vÇd æÃ vK ¬äèUI*Ç UN kH vÇ ÊUUOÇè
.äèUI*Ç ÊUOKLF ÑÇd{Ç åb (à) ÉdIHÇ çc s WIU Ç WKL'Ç vCI0 âuI(Ç
‫صورة إ‬
s Uë ¬(EUG) ÌUÇè áUAJ
dB WÇu ä s ¬WONÇ vÅ äèUI*Ç åbIè
WOuuO'Ç ÊUUOÇ dÑUI dB(Ç äU*Ç qO
vK WKU) XU Uë Ã ÊUUOÇ lOL
‫لك‬
WIKF*Ç ÊÇdO HÇè ÊUuKF*Ç q pcè (ÑUÇ ÊÇÑU Çè ÊO Çè WOIeOuO'Çè
‫تروني‬
.ÊUUOÇ çcN
‫ة ال يع‬
¬(EUG) ÌUÇè áUAJ
dB WÇu ä s ¬ULNM éÃ èÃ WONÇè WuJàK
èÃ/è YÇ Éd ä ¬WOLOKÅ ÊU
ÇÑÏ ÁÇdÅ èÃ Ébb Öèd vK äuB(Ç ÖdG
UdOè ÊUuKF*Çè WOuuO'Çè WOIeuO'Ç ÊUUOÇ vK YU ád éÃ Ù Å ¬WOLMÇ
‫تد بها‬
WL U*Ç ÁÇe_Ç èÃ Áe'U WU)Ç ¬äèUI*Ç ÊÇdO Hè dÑUI èÃ WOMHÇ ÊUUOÇ s
(³) Ë Ñèd ×dAè äèUI*Ç ÑUD Å bF pÐè ¬Ébb'Ç ÖèdFÇ v WdI*Ç WIDMLK
‫عند ا‬
.qÃ Éd vK äèUI*Ç oÇu r U ÊUUOÇ pK qOB% vK ÊÇuM
‫ل‬
WÑ WU v WIDM*U WU)Ç ÊUUOÇ vK YU ád éÃ Ù Å äèUILK o ¬q*Uè
‫تداول‬
.WONÇ WIÇu0 Uë MÑ äÒUMÇ æuJè ¬sdAFÇè WÏU(Ç ÉÏULK Uë Iè ¬äÒUM æÃ äèUI*Ç
±³³ ²°²² WM
dÇ Ébd'Ç
(c) (Unless otherwise agreed to by EGPC), in case of exporting any rock

samples outside A.R.E., samples equivalent in size and quality shall,
before such exportation, be delivered to EGPC as representative of the
GOVERNMENT.
(d) Originals of records can only be exported with the permission of EGPC;
provided that a monitor or a comparable record is maintained in EUG
in the A.R.E., and provided that such original/processed data shall be
repatriated to A.R.E. promptly following such processing or analysis
on the understanding that they belong to EGPC.
(e) During the period CONTRACTOR is conducting the Exploration
operations, EGPC's duly authorized representatives or employees shall
have the right to full and complete access to the Area at all reasonable
times with the right to observe the operations being conducted and to
inspect all assets, records and data kept by CONTRACTOR. EGPC's
representative, in exercising its rights under the preceding sentence
of this paragraph (e), shall not interfere with CONTRACTOR's
operations.
‫صورة إ‬
CONTRACTOR shall provide EGPC, through EUG, with copies of
any and all data (including, but not limited to, geological and
geophysical data, reports, logs and well surveys) information and
interpretation of such data. ‫لك‬
‫تروني‬
For the purpose of obtaining new offers or carrying out regional
studies, GOVERNMENT and/or EGPC shall, through EUG during
‫ة ال يع‬
Exploration and/or Development period, show any third party
geophysical, geological data, information and other technical data or
CONTRACTOR's reports and interpretations, with respect to the part
‫تد بها‬
or parts adjacent to the proposed area in the new offers, upon notifying
CONTRACTOR, and provided that three (3) years have passed the
acquisition of such data, unless CONTRACTOR agrees to a shorter
‫عند ا‬
period.
CONTRACTOR shall also have the right to show any third party the
data relevant to the Area in case of assignment (subject to EGPC's
‫ل‬
‫تداول‬
approval), in case CONTRACTOR desires to assign in accordance

with Article XXI.
²°²² WM
dÇ Ébd'Ç ±³´
dA W U)« …œU*«

έ΍έοϷ΍ ϥϋ Δϳϟϭ΋γϣϟ΍
Ëb Ñd{ éÃ s dOGÇ WNÇu v æuUIK Uë I qUJU WOu *Ç çbè äèUI*Ç qL
iuF tOKè .äèUI*Ç UN åuI vÇ ¬ULNOK èÃ ¬äG
Ç èÃ YÇ ÊUOKLF WO
tIU vK UNOu lI b vÇ ÑÇd{_Ç WU s ULNM éÃ èÃ WONÇè .Ù.å.Ì WuJ
.ÊUOKLFÇ çc s éÃ V
WÑuNL WuJ s tOu èÃ Wz èÃ dÃ éÃ Ñèb WO Ëb Ñd{ éÃ æS ¬pÐ lè
ULbÃ èÃ UL äèUI*Çè WONÇ vHF pÐ dO èÃ æuU qJ v æU ÁÇu
WOdFÇ dB
æU U*U WOUHÇ çc Vu0 ÑdI åÇeÇ éQ ÁUuÇ v dO QÇ èÃ ÁUuÇ åb WOu s
t{dH U Ïèb v dÇè_Ç èÃ `zÇuKÇ èÃ 5ÇuIÇ çc Ñèb s Uë U dO QÇ èÃ ÁUuÇ åb
s "UMÇ ÑdCÇ Í WÒÇ Éb*Ç äèUI*Ç `M1 æÃ vK dÇè_Ç èÃ `zÇuKÇ èÃ 5ÇuIÇ pK
ë
‫صورة إ‬
vK ÇÑuBI pÐ æuJ æÃ ×dA WOUHÇ æUd
Éb vÅ áUC tO dO QÇ èÃ ÁUuÇ åb
.dÇè_Ç èÃ `zÇuKÇ èÃ 5ÇuIÇ çcN ÊdQ vÇ ÊUUDIÇ èÃ ÙUDIÇ
dA W
œU « …œU*«
‫لك‬
‫تروني‬
ΔϣϭϛΣϟ΍ ϰϠΛϣϣ Ε΍ίΎϳΗϣ·
WOUHÇ çc Ùu{u WIDM*Ç vÅ äu bÇ v o(Ç Uë OuU Uë CuH 5{uH*Ç WuJ(Ç vKL*
‫ة ال يع‬
ÊUUOè Ê
è dUÏ h 5KL*Ç ÁRN Òuè .UNO éd& vÇ ÊUOKLFÇ lÇu vÅè
ÊUu
dÇè ` *Ç ÊUOKL s äuIF Ïb ÁÇdÅè ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè WONÇ
‫تد بها‬
ÊÇèÏÃè ÊÂ ÇuKLF æÃ rN o ¬ÖdGÇ ÇcNè ¬WOUHÇ çc cOHM ÖdG ÊÇÑU Çè
¬äULF
Ç Çc s QAM Ã ×dA WuIF*Ç Ïèb(Ç v ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç
‫عند ا‬
¬WOUHÇ çcN Uë Iè éd& vÇ ÊUOKLFK ouF èÃ dD éÃ ¬dU dO èÃ dU odD
ÁRN W
UM*Ç ÉbU *Ç .bI ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç vHuè vèbM vKè
‫ل‬
‫تداول‬
åbIè .ÊUOKLFÇ ÉÁUH èÃ W

ouF èÃ ÑÇd{Ã éÃ v WDAÃ WÃ V v 5KL*Ç
±³µ ²°²² WM
dÇ Ébd'Ç
ARTICLE XV
RESPONSIBILITY FOR DAMAGES
CONTRACTOR shall entirely and solely be responsible in law toward
third parties for any damage caused by CONTRACTOR’s Exploration
and/or Exploitation operations and shall indemnify the GOVERNMENT
and/or EGPC against all damages for which they may be held liable on
account of any such operations.
However, any damage resulting from issuing any order, regulation or
direction of the GOVERNMENT of the Arab Republic of Egypt whether
in the form of a law or otherwise, EGPC and/or CONTRACTOR shall
be exempted from the responsibility of non-performance or delay of any
obligation hereunder, in consequence of issuing these orders, regulations
or directions in the limitation of imposing these orders, regulations or
directions. CONTRACTOR shall be granted the necessary period to restore
‫صورة إ‬
the damage done of the non-performance or delay by adding a period to
the period of the Agreement, with respect to the Block or Blocks affected
by these orders, regulations or directions.
ARTICLE XVI ‫لك‬
‫تروني‬
PRIVILEGES OF GOVERNMENT REPRESENTATIVES
Duly authorized representatives of the GOVERNMENT shall have access
‫ة ال يع‬
to the Area covered by this Agreement and to the Operations conducted
thereon. Such representatives may examine the books, registers and
records of EGPC, CONTRACTOR and Operating Company and make
‫تد بها‬
a reasonable number of surveys, drawings and tests for the purpose of

enforcing this Agreement. They shall, for this purpose, be entitled to make
‫عند ا‬
reasonable use of the machinery and instruments of CONTRACTOR or

Operating Company on the condition that no danger or impediment to the
‫ل‬
operations hereunder shall arise directly or indirectly from such use. Such
‫تداول‬
representatives shall be given reasonable assistance by the agents and

²°²² WM
dÇ Ébd'Ç ±³¶
UNbI vÇ ÊON Çè UÇe*Ç WU 5KL*Ç ÁRN ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç
WR sU è rNULF
UNUJ v Uë
UM Uë UJ Uë U rN åbIè qI(Ç v UNOHu*
åb lè .ÉÏU*Ç çc s ÏuBI*Ç oI% dO O ÖdG qI(Ç v rbÇu ÁUMÃ oz qJA
ÊUuKF WÃ èÃ q Wd
vK ØUH(Ç V tS ¬ (à) ÉdI dA WFÇdÇ ÉÏU*U ä Ç
.dA W
ÏU Ç ÉÏU*Ç çc Vu0 UuK2 èÃ WuJ(Ç UNOK qB% WIDM*U WIKF
dA WFU « …œU*«
Ω΍έϓ΃ ΏϳέΩΗϭ ϡ΍ΩΧΗγϻ΍ ϕϭϘΣ
ΔϳΑέόϟ΍ έλϣ ΔϳέϭϬϣΟ
r WOKL WIdD WOUHÇ çc Ùu{u ÊUOKLFÇ éd& æÃ vK äèUI*Çè WONÇ Õd% (Ã)
:ÉÁUHJU
WLzUIÇ WdAÇ èÃ äèUI*Ç vHu s 5OMHÇè 5OMN*Çè 5ÑÇÏÇ s VU_Ç `M1 -±
¬WOUHÇ çc vCI0 ÊUOKLFÇ cOHM 5b *Ç rNOèUI vHuè ÊUOKLFU
‫صورة إ‬
ÑÇdIÇè ¬äbF*Ç ±¹¶° WM ¸¹ rÑ æuUIÇ v tOK ÕuBM*Ç WUÇ o
æÃ vK äèUI*Ç oÇuè qbF s tOK ÃdD Uè ±¹¹¶ WM ¸±¸° rÑ éÑÇÒuÇ
nOuÇè ÊÇdOQÇè dH Ç ÊÇÒÇuè ÉdNU WU)Ç .Ù.å.Ì `zÇu WU oD
‫لك‬
‫تروني‬
. .Ù.å.Ì v æuKLF scÇ VU_Ç äèUI*Ç vb lOL vK
s (¥²µ) WzU*Ç v sdAè W L s qI U WdB*Ç WKLFU Uë dN lb - ²
‫ة ال يع‬
5OMHÇè 5OMN*Çè 5ÑÇÏÇ VU_Ç 5Hu*Ç s nu q ÑuÃè ÊUd ÙuL
.ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç rNb scÇ
rNM åÒÇ ÏbFÇ Ïbè tOHu ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç s q ÑU (È)
‫تد بها‬
.WOUHÇ çc Vu0 ÊUOKLFÇ v åÇb

tOHu lOL' WBB VÑb ZÇd cOHMè ÏÇbS WONÇ l ÑèUAÇ bF äèUI*Ç åuI (Ì)
‫عند ا‬
vÇuMU h ULO pÐè WOUHÇ çc Vu0 ÊUOKLFU æuuI scÇ .Ù.å.Ì v
ÁUDS ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç bNFè ¬äèdÇ WUMB WOU*Çè WOIODÇ
‫ل‬
‫تداول‬
.5KR*Ç 5dB*Ç 5M Çu*Ç nOu Wuè_Ç

±³· ²°²² WM
dÇ Ébd'Ç
employees of CONTRACTOR or Operating Company so that none of the

activities shall endanger or hinder the safety or efciency of the operations.
CONTRACTOR or Operating Company shall offer such representatives
all privileges and facilities accorded to its own employees in the eld
and shall provide them, free of charge, the use of reasonable ofce space
and of adequately furnished housing while they are in the eld for the
purpose of facilitating the objectives of this Article. Without prejudice to
Article XIV (e) any and all information obtained by the GOVERNMENT
or its representatives under this Article XVI shall be kept condential with
respect to the Area.
ARTICLE XVII
EMPLOYMENT RIGHTS AND TRAINING OF
ARAB REPUBLIC OF EGYPT PERSONNEL
(a) It is the desire of EGPC and CONTRACTOR that operations hereunder
be conducted in a business-like and efcient manner:
(1) The expatriate administrative, professional and technical personnel
employed by CONTRACTOR or Operating Company and the
personnel of its contractors for the conduct of the operations
‫صورة إ‬
hereunder, shall be granted a residence as provided for in Law No.
89 of 1960 as amended and Ministerial Order No. 8180 of 1996
as amended, and CONTRACTOR agrees that all immigration,
‫لك‬
passport, visa and employment regulations of the A.R.E., shall be
applicable to all alien employees of CONTRACTOR working in
‫تروني‬
the A.R.E..
(2) A minimum of twenty-ve percent (25%) of the combined salaries
‫ة ال يع‬
and wages of each of the expatriate administrative, professional
and technical personnel employed by CONTRACTOR or
Operating Company shall be paid monthly in Egyptian Currency.
(b) CONTRACTOR and Operating Company shall each select its
‫تد بها‬
employees and determine the number thereof, to be used for operations

hereunder.
(c) CONTRACTOR, shall after consultation with EGPC, prepare and
‫عند ا‬
carry out specialized training programs for all its A.R.E. employees
engaged in operations hereunder with respect to applicable and
nancial aspects of the Petroleum industry. CONTRACTOR and
‫ل‬
‫تداول‬
Operating Company shall give preference to the employment of

qualied Egyptian nationals.
²°²² WM
dÇ Ébd'Ç ±³¸
dA WMU« …œU*«

΢΋΍ϭϠϟ΍ϭ ϥϳϧ΍ϭϘϟ΍
rUM*U ÕU)Ç ±¹µ³ WM ¶¶ rÑ æuUIK ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç lC (Ã)
pÐ v U0 ¬çcOHM ÉÑÏUBÇ `zÇuKÇè tbFè (tM ³· ÉÏU*Ç ÁUM
U) dU;Çè
WEULKè WOUHÇ çcN ÇcOHM r vÇ ÊUOKLFÇ ÁÇÏÃ ÉÁUHè W WU)Ç `zÇuKÇ
èÃ UNbF èÃ `zÇuKÇ çc s éÃ æuJ Ã ×dA .Ù.å.Ì v äèdÇ ÏÑÇu vK
.WOUHÇ çc ÕuB l WOAL dO èÃ W{ÑUF UNÇdO H
æQA ±¹¹´ WM ´ rÑ æuUIÇ åUJ_ ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç lC (È)
s ë I ÑbB b Uè ÊbF s ULNOK ÃdD b Uè WcOHMÇ tzè WOÇ
.WOÇ WUL oKF `zÇu èÃ 5Çu
WONÇ vHF ¬q bÇ VzÇd{ ÕuB (Ò) WUÇ ÉÏU*Ç v tB ÏÑè U ÁUM
U (Ì)
‫صورة إ‬
s ÖdH vÇ pK ÁÇu
åu
dÇè VzÇdCÇ WU s ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè
WLOIÇ vK WdCÇè ÊUFO*Ç Wd{ UdO sL{ qLA vÇè ÊUOK;Ç s èÃ WuJ(Ç
tUÅ èÃ tÇd
Ç èÃ tOLM èÃ äèdÇ s YÇ vK W{èdH*Ç VzÇdCÇè WUC*Ç
‫لك‬
‫تروني‬
åÇeÇ qè WÃè (LPG) äU *Ç äèdÇ ÒU vK W{èdH*Ç Çcè tKI èÃ çdbB èÃ
ÊUb)Ç ÈUFÃè bzÇuHÇè ÍUÑ_Ç ÊUFÒu vK ÖdH æÃ sJ1 vÇ WdCÇ rB
‫ة ال يع‬
s UCÃ äèUI*Ç vHFè .pÐ tU Uè WÑUÇ ÊUFÇè ÊÇÁÇdÇ ÊÇèUÅè WOMHÇ
éÃ sè äèUI*Ç vLU * q Ï é_ ÊUFÒu WÃ vK èÃ äèUI*Ç WOHB vK VzÇd{ WÃ
‫تد بها‬
.äU*Ç ÓÃÑ vK Wd{

æuJ UNKÃ äÇu WÑU Çè WOUHÇ çc Vu0 äèUI*Çè WONÇ ÊUÇeÇè âuI (Ï)
‫عند ا‬
âUHU Å UNKbF èÃ UdOOG sJ1 è UN Uë I è WOUHÇ çc åUJ_ WF{U

UN ÊÑb vÇ ÊÇÁÇdÇ ÊÇc ÉÑuc*Ç ÉbUF*Ç áÇd _Ç 5 ÈuJ*Ç ãdA*Ç
‫ل‬
‫تداول‬
.WOK_Ç WOUHÇ
±³¹ ²°²² WM
dÇ Ébd'Ç
ARTICLE XVIII
LAWS AND REGULATIONS
(a) CONTRACTOR and Operating Company shall be subject to Law No.
66 of 1953 for Mines and Quarries (excluding Article 37 thereof) and
its amendments and the regulations issued for the implementation
thereof, including the regulations for the safe and efcient performance
of operations carried out for the execution of this Agreement and for
the conservation of the Petroleum resources of the A.R.E. provided
that no regulations, or modication or interpretation thereof, shall
be contrary to or inconsistent with the provisions of this Agreement.
(b) CONTRACTOR and Operating Company shall be subject to the
provisions of the Law No. 4 of 1994 concerning the environment
and its executive regulation as may be amended, as well as any
laws or regulations may be issued, concerning the protection of the
environment.
‫صورة إ‬
(c) Except as provided in Article III (g) for Income Taxes, EGPC,
CONTRACTOR and Operating Company shall be exempted from
all taxes and duties, whether imposed by the GOVERNMENT or
‫لك‬
municipalities including among others, Sales Tax, Value Added Tax
‫تروني‬
and Taxes on the Exploration, Development, extracting, producing,
exporting or transporting of Petroleum and LPG as well as any and
all withholding taxes that might otherwise be imposed on dividends,
‫ة ال يع‬
interest, technical service fees, patent and trademark royalties, and
similar items. CONTRACTOR shall also be exempted from any tax
on the liquidation of CONTRACTOR, or distributions of any income
‫تد بها‬
to the shareholders of CONTRACTOR, and from any tax on capital.

(d) The rights and obligations of EGPC and CONTRACTOR hereunder,
‫عند ا‬
and for the effective term of this Agreement shall be governed by

and in accordance with the provisions of this Agreement and can
only be altered or amended by the written mutual agreement of the
‫ل‬
‫تداول‬
said contracting parties in the same procedures by which the original

Agreement has been issued.
²°²² WM
dÇ Ébd'Ç ±´°
WU)Ç åUJ s UÇ s ULuèUIè ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç uèUI lC (àà)
rNOèUIè ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç vK éd è ¬WOUHÇ çc v rN
écÇ ÑbIU d Xè s WuJ(Ç UÑbB `zÇu WÃ 5OMF*Ç s UÇ s rNOèUIè
.äU(Ç æuJ UL ¬WOUHÇ çc ÕuB l tO vAL
rNOèUIè ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè WONÇ vHF ¬WOUHÇ çc ÖÇd_è (è)
vÇ ÊUU'Çè izÇdHÇè WOMN*Ç WGbÇ åu
Ñ q s 5OMF*Ç s UÇ s rNOèUIè
.WOUHÇ çcN ÉÏÑÇuÇ rNDAÃè rNÇbM vK WOUIMÇ 5ÇuIÇ UN{dH
vÇ WOUHÇ çc Vu0 WuML*Ç .Ù.å.Ì `zÇu èÃ 5Çu oOD s ÊÇÁUHÇ q (Ò)
pK qLA s UÇ s rNOèUIè rNOèUIè ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè WONÇ
.ë I UNK q èÃ qbF s UNOK ÃdD Uè Uë OU WÑU Ç `zÇuKÇè 5ÇuIÇ
dA WF
U« …œU*«
ΩϘόϟ΍ ϥί΍ϭΗ
WID*Çè WLzUIÇ `zÇuKÇ èÃ ÊUFdAÇ v dOOG ¬æUd Ç aÑU bF ¬Ëb ÇÐÅ U WU v
‫صورة إ‬
ÙB*Ç vK UU ÇdOë Q t æuJ U2 tUÅè tOLMè äèdÇ s YÇ cOHM vK
äu æQ UÇeÇ äèUI*Ç vK ÖdH èÃ äèUI*Ç Ù dO v WOUHÇ çcàààààN WÏUBÇ
‫لك‬
ldAÇ ÇcN WONÇ äèUI*Ç dD cMO ¬äèUI*Ç äèd lO s W&UMÇ mU*Ç .Ù.å.Ì vÅ
‫تروني‬
s æuJ vÇè WzÇ èÃ ldAÇ Çc Ñèb vK Wd*Ç ÑUU UCÃè WzÇ èÃ
WMJL*Ç ÊbFÇ æQA áÇd _Ç ÖèUH WU(Ç çc vè .bIFÇ æÒÇu vK dOQÇ UNQ
‫ة ال يع‬
v ÇÏuu æU écÇ WOUH éÏUBÇ æÒÇuÇ ÉÏUÅ vÅ ábN vÇè WOUHÇ çcN
.æUd Ç aÑU
Uë u (¹°) 5F ä WOUHÇ çc qbF vK âUH rÏuN éÑUB áÇd _Ç äcè
‫تد بها‬
.ÑUD Ç pÐ s
ÉÏUÒ èÃ ÕUIÇ vÅ WOUHÇ çcN ÊbFÇ çc éÏR æÃ äÇu_Ç s äU éQ Òu è
‫عند ا‬
. æUd Ç aÑU bM ULNQA âUHÇ - UL äèUI*Ç ÊUÇeÇè âuI v

‫ل‬
æèdàààAFÇè WFÇdÇ ÉÏUààà*Ç oàààD ¬rNMO ÊUàààÒUM*Ç qààà v áÇdààà _Ç âUàààH Å WàààU vàààè
‫تداول‬
.WOUHÇ çc s
±´± ²°²² WM
dÇ Ébd'Ç
(e) The contractors and sub-contractors of CONTRACTOR and Operating

Company shall be subject to the provisions of this Agreement which
affect them. Insofar as all regulations which are duly issued by the
GOVERNMENT apply from time to time and are not in accord with
the provisions of this Agreement, such regulations shall not apply to
CONTRACTOR, Operating Company and their respective contractors
and sub-contractors, as the case may be.
(f) EGPC, CONTRACTOR, Operating Company and their respective
contractors and sub-contractors shall for the purposes of this
Agreement be exempted from all professional stamp duties, imposts
and levies imposed by syndical laws with respect to their documents
and activities hereunder.
(g) All the exemptions from the application of the A.R.E. laws or regulations
granted to EGPC, CONTRACTOR, the Operating Company, their
contractors and sub-contractors under this Agreement shall include
such laws and regulations as presently in effect or hereafter amended
or substituted.
ARTICLE XIX
‫صورة إ‬
STABILIZATION
In case of changes in existing legislation or regulations applicable to the
conduct of Exploration, Development and production of Petroleum, which
‫لك‬
take place after the Effective Date, and which signicantly affect the
economic interest of this Agreement to the detriment of CONTRACTOR
‫تروني‬
or which imposes on CONTRACTOR an obligation to remit to the A.R.E.
the proceeds from sales of CONTRACTOR's Petroleum, CONTRACTOR
shall notify EGPC of the subject legislative or regulatory measure and also
‫ة ال يع‬
the consequent effects upon issuing legislation or regulation which impact
on the stabilization. In such case, the Parties shall negotiate possible
modications to this Agreement designed to restore the economic balance
‫تد بها‬
thereof which existed on the Effective Date.

The Parties shall use their best efforts to agree on amendments to this
Agreement within ninety (90) days from aforesaid notice.
‫عند ا‬
These amendments to this Agreement shall not in any event diminish

or increase the rights and obligations of CONTRACTOR as these were
agreed on the Effective Date.
‫ل‬
‫تداول‬
In case of the parties' failure to solve the disputes, Article XXIV of this
Agreement shall be applied.
²°²² WM
dÇ Ébd'Ç ±´²
ÊËdAF« …œU*«
˯ϼϳΗγϹ΍ ϕΣ
ÙuuÇ WJOè Èd åUO lu V èÃ Èd(Ç V WOM uÇ ÆÑÇuDÇ WU v (Ã)
écÇ ÌUÇ s Áe èÃ q vK vu æÃ WuJK Òu tS ¬WOK ÇÏ ÈU
_ èÃ
WLzUIÇ WdAÇ s VKD æÃè WOUHÇ çc vCI0 WIDM*Ç s tOK äuB(Ç -
æÃ Uë CÃ WuJK Òu UL ¬sJ2 b vBÃ vÅ ÌUÇ Çc ÉÏUÒ ÊUOKLFU
vK ¬ÁUCÇ bMè ¬tÇc ULNM éÃ èÃ ¬ÒUGÇ qI è XeÇ qI vK vu
.t WIKF*Ç ÊON Ç
ÈUD ULNOK2 èÃ äèUI*Çè WONÇ ÉuÏ bF Å ÁO
Ç Çc r WU(Ç pK q v (È)
.ÁO
Ç Çc æQA rdE ÊUNè s dOFK äuuÇ rKF q
qI è XeK qI éÃ vK ÁO
Ç UÃ .êÑÇÒè ÑÇd Vu0 ÌUÇ vK ÁO
Ç r (Ì)
‫صورة إ‬
WÑuNL'Ç fOzÑ s ÑÇdI rO t WIKF ÊON WÃ èÃ ¬ULNM éÃ èÃ tÇc ÒUGK
ë
.Uë O Uë OuU ÇÑUD Å äèUI*Çè WONÇ t dàD
‫لك‬
äèUI*Çè WONÇ ÖuF æQ åeK WuJ(Ç æS çdÐ o
U* Uë I r ÁO
Ç éÃ WU v (Ï)
‫تروني‬
:pÐ v U0 ÁO
Ç Éb s ë U Uë CuF
‫ة ال يع‬
è ¬ÁO
Ç Çc s rM vÇ ÑÇd{_Ç WU (±)
tM Uë uB äèd s WuJ(Ç td
Ç U q sL qUJ ÁUè WdN ÊUFÏ (²)
‫تد بها‬
.ÌUÇ Çc s ÉèUÇ v UNB

åuNH âUD v q b ÁÇb_Ç åuN WO Ëb Ñd{ éÃ æS ¬pÐ lè
‫عند ا‬
ÊUuÇ ÊÇÑèb äèUI*Ç vÅ Çc Vu0 WI *Ç mU*Ç lbè .(Ï) ÉdIHÇ çc
vu *Ç äèdÇ dF
V è .ÌÑU)Ç vÅ quK WKUIÇ WOJd_Ç Éb*Ç
‫ل‬
‫تداول‬
.(Ì) ÉdI WFU Ç ÉÏU*Ç hM Uë I äèUILK lb écÇ tOK

±´³ ²°²² WM
dÇ Ébd'Ç
ARTICLE XX
RIGHT OF REQUISITION
(a) In case of national emergency due to war or imminent expectation of
war or internal causes, the GOVERNMENT may requisition all or
part of the production from the Area obtained hereunder and require
Operating Company to increase such production to the utmost possible
maximum. The GOVERNMENT may also requisition the Oil and/or
Gas eld itself and, if necessary, related facilities.
(b) In any such case, such requisition shall not be effected except after
inviting EGPC and CONTRACTOR or their representative by
registered letter, with acknowledgement of receipt, to express their
views with respect to such requisition.
(c) The requisition of production shall be effected by Ministerial Order.
‫صورة إ‬
Any requisition of an Oil and/or Gas eld, or any related facilities
shall be effected by a Presidential Decree duly notied to EGPC and
CONTRACTOR.
‫لك‬
(d) In the event of any requisition as provided above, the GOVERNMENT
‫تروني‬
shall indemnify in full EGPC and CONTRACTOR for the period
during which the requisition is maintained, including:
‫ة ال يع‬
(1) All damages which result from such requisition; and
(2) Full repayment each month for all Petroleum extracted by the
‫تد بها‬
GOVERNMENT less the royalty share of such production.

However, any damage resulting from enemy attack is not within
‫عند ا‬
the meaning of this paragraph (d). Payment hereunder shall be

made to CONTRACTOR in U.S.Dollars remittable abroad.
The price paid to CONTRACTOR for Petroleum taken shall be
‫ل‬
‫تداول‬
calculated in accordance with Article VII (c).

²°²² WM
dÇ Ébd'Ç ±´´
ÊËdAF«Ë WœU(« …œU*«

ϝίΎϧΗϟ΍
q s W
R èÃ Wd èÃ h é_ äÒUM æÃ äèUI*Ç èÃ WONÇ s é_ Òu (Ã)
ÁÇu
WOUHÇ çc Vu0 ÉÑdI*Ç tUÇeÇ èÃ tUÇè èÃ tÇÒUOÅ èÃ tuI iF èÃ
dB(Ç äU*Ç qO
vK dU dO äÒUMU bBIè) dU dO èÃ dU odD
s d Ã ádB éÃ èÃ äu_Ç èÃ äU*Ç ÓÃÑ èÃ rN
qu% ¬ÁÇd ¬lO ÊUOKL éÃ
WIÇu æèÏ (WdAÇ äU ÓÃÑ s tB vK äèUI*Ç uC/äèUI*Ç ÉdDO
dOOG tQ
WB(Ç vK äuB(Ç v WONK Wuè_Ç vDF äÇu_Ç lOL vè ¬WuJ(Ç s WOU
uC ÊÇc WFU WdA äÒUMÇ Çb) pÐ v WONÇ XÑ U ÇÐÅ UNM äÒUMÇ ÏÇd*Ç
.(äèUI*Ç
éÃ èÃ q s äÒUMÇ äèUILK Òu ¬(Ã) sdAFÇè WÏU(Ç ÉÏU*Ç åUJQ ä Ç æèÏ (È)
ÊÇc WFU Wd vÇ WOUHÇ çc Vu0 tUÇeÇè tUÇèè tÇÒUOÇè tuI s
‫صورة إ‬
vK äuB(Çè WU WuJ(Çè WONÇ ÑUD U äèUI*Ç åUO ×dA ¬äèUI*Ç uC/äèUI*Ç
ë
.äÒUMÇ vK WU WuJ(Ç WIÇu
äÒUM*Çè äÒUM*Ç s q qE ¬WFU Wd vÅ âuI(Ç iF èÃ q s äÒUMÇ WU v
‫لك‬
çc s WUMÇ äèUI*Ç ÊUÇèè ÊUÇeÇ q s sÏdHM èÃ 5FL 5u tOÅ
‫تروني‬
.WFU WdA WHBÇ fHM WFL WFUÇ WdAÇ qE æÃ ×dA ¬WOUHÇ
(Ã) ÉdIHÇ v UNOÅ ÑUA*Ç WuJ(Ç WIÇu vK äuBK VK éÃ v dEMÇ sJ1 v (Ì)
‫ة ال يع‬
:WOÇ ×èdAÇ ÁUHO

Ç V çÃ (È)è
vK WOUHÇ çc s WUMÇ äÒUM*Ç ÊUÇeU ÁUuÇ - b æuJ æÃ V (±)
‫تد بها‬
.VKDÇ Çc .bI aÑU v ÒBÇ uMÇ

tOÅ äÒUM*Ç æÃ WbÇ tè vK ÑdI ÕuB vK äÒUMÇ WIOè qLA æÃ V (²)
‫عند ا‬
UNOK q ÏÃ b æuJ Uè WOUHÇ çc UNOK éuDM vÇ ÊÇbNFÇ WUJ åeK
çcàà äÒUMÇ WIOè ÙèdàààààA åbIè .tÑU v ÊUU{ÅèÃ ÊbF s WU
‫ل‬
‫تداول‬
.Uë OL
Ñ UNÇdÅ q UÏUàLÇè UàNBH WONÇ vÅ
±´µ ²°²² WM
dÇ Ébd'Ç
ARTICLE XXI
ASSIGNMENT
(a) Neither EGPC nor CONTRACTOR may assign to a person, rm or
corporation, in whole or in part, any of its rights, privileges, duties
or obligations under this Agreement either directly or indirectly
(indirect assignment shall mean, for example but not limited to , any
sale, purchase, transfer of stocks, capital or assets or any other action
that would change the control of CONTRACTOR/CONTRACTOR
Member on its share in the company’s capital) without the written
consent of the GOVERNMENT, and in all cases priority shall be
given to EGPC, if it so desires, to obtain such interest intended to be
assigned (except assignment to an Afliated Company of the same
CONTRACTOR Member).
(b) Without prejudice to Article XXI (a), CONTRACTOR may assign
all or any of its rights, privileges, duties and obligations under this
Agreement to an Afliated Company of the same CONTRACTOR/
CONTRACTOR Member, provided that CONTRACTOR shall notify
‫صورة إ‬
EGPC and the GOVERNMENT in writing and obtain the written
approval of the GOVERNMENT on the assignment.
In the case of an assignment either in a whole or in a part to an Afliated
Company, the assignor together with the assignee shall remain jointly
‫لك‬
and severally liable for all duties and obligations of CONTRACTOR
‫تروني‬
under this Agreement provided such Afliated Company remains in
the same capacity as an Afliated Company.
‫ة ال يع‬
(c) To enable consideration to be given to any request for such
GOVERNMENT’s consent referred to in (a) or (b) above, the
following conditions must be fullled:
‫تد بها‬
(1) The obligations of the assignor deriving from this Agreement must
have been duly fullled as of the date such request is made.
(2) The instrument of assignment must include provisions stating
‫عند ا‬
precisely that the assignee is bound by all covenants contained in

this Agreement and any modications or additions in writing that
up to such time may have been made. A draft of such instrument of
‫ل‬
‫تداول‬
assignment shall be submitted to EGPC for review and approval

before being formally executed.
²°²² WM
dÇ Ébd'Ç ±´¶
X vÇ WÒÇ ÊÇbM *Ç WONK åbI æÃ (5ÒUM*Ç) äÒUM*Ç vK 5F (³)
WdAÇ WOF X vÇ ÊÇbM *Ç UCÃè tOÅ äÒUMLK WOMHÇè WOU*Ç ÉÁUHJÇ
.äèUI*Ç uC/äèUILK WFUÇ
çc ÕuBM UIè édÃ WÇu(Ç çc q* éd Ã WKO
è éÃ èÃ WÇu èÃ lO èÃ äÒUM éÃ (Ï)
U èÃ äU*Ç ÓÃÑ ÍUÑÃ vK èÃ WÇu(Ç vK VzÇd{ WÃ s vHF sdAFÇè WÏU(Ç ÉÏU*Ç
WU dB(Ç fOè äU*Ç qO
vK pÐ v U0 åu
Ñ èÃ ÁUÃ èÃ VzÇd{ s t oKF
VzÇdCÇ èÃ WGbÇ åu
Ñè WUC*Ç rOIÇ Wd{è ÊUFO*Ç Wd{è q bÇ vK VzÇdCÇ
.WNUA ÊUub éÃ èÃ éd _Ç
vK WFUÇ WdAÇ á ÍdI*Ç tOÅ äÒUM*Ç YUÇ ádDÇè äÒUM*Ç âUHÇ bM (àà)
ÊUuÇ ÊÇÑèb çÑbI äÒUM q WIH WLO WMLC äÒUMK WOzUNMÇ ×èdAÇ
WOzUNMÇ ×èdAÇ çc s ë OBH ÍUBÇ äÒUM*Ç vK r tS ¬WOJd_Ç Éb*Ç
WUFÇ WdB*Ç WONK o .äèdK WUFÇ WdB*Ç WONÇ vÅ WU ë äÒUMÇ ÇcN
ë
Uë OU ÇÑUD Å äÒUM*Ç rK æÃ ×dA UNM äÒUMÇ ÏÇd*Ç WB(Ç vK äuB(Ç äèdK
‫صورة إ‬
fH UNu çdD è UN vUJÇ äÒUM*Ç ÑUD Å aÑU s Uë u (¹°) 5F ä
WONÇ rOK åb WU v .tOÅ äÒUM*Ç ÍdI*Ç YUÇ ádDÇ l UNOK oH*Ç ×èdAÇ
ÏÇd*Ç WB(Ç s äÒUMÇ äÒUMLK o çc Uu (¹°) 5F Éb ä ÑUD Ç ÇcN ‫لك‬
‫تروني‬
ÉdIHK Uë Iè WuJ(Ç WIÇu ×dA ¬ ÍdI*Ç tOÅ äÒUM*Ç YUÇ ádDÇ vÅ UNM äÒUMÇ
.ÉÏU*Ç çc s "Ã"
‫ة ال يع‬
UààNM äÒUààMÇ ÏÇdàà*Ç WààB(Ç vààK äuB(Ç ÑUO Ç vààà UàààNI WààONÇ Wàà
ÑU2 WU vàà
äÒUàM*Ç ràNO Uàà0 äèUààI*Ç ÁUCÃ sààO "ãdA qOGA WààOUHÇ" Ïuààè åbàààà WààU vààè
‫تد بها‬
ÌÐuLMK Uë I ¬"ãdàA qàOGA WOUHÇ" v äu bK WO sà äèUI*Çè WONÇ ÖèUH

"Association for International Petroleum Negotiators" WD
Çuà ÑuàAM*Ç
‫عند ا‬
ÇÐÅ .WONÇ ÑUD Å aÑU sà Uë u (±²°) sdAè WzU ä âUHÇ Çc åU9 pÐè
Uë u sdAFÇè WzU*Ç Éb ä ãdA qOGA WOUHÇ vK äèUI*Çè WONÇ oH r
‫ل‬
×dA ¬ÍdI*Ç tOÅ äÒUM*Ç YUÇ ádDK äÒUM æÃ äÒUMLK o tS ¬çc (±²°)
‫تداول‬
.ÉÏU*Ç çc s "Ã" ÉdIHK UIè WuJ(Ç WIÇu

±´· ²°²² WM
dÇ Ébd'Ç
(3) The assignor(s) must submit to EGPC reasonable documents that

evidence the assignee’s nancial and technical competence, and
the documents that conrm the afliation of such company to the
CONTRACTOR/CONTRACTOR Member.
(d) Any assignment, sale, transfer or other such conveyance made pursuant
to the provisions of this Article XXI shall be free of any transfer,
capital gains taxes or related taxes, charges or fees including without
limitation, all Income Tax, Sales Tax, Value Added Tax, Stamp Duty,
or other Taxes or similar payments.
(e) Once the assignor and a proposed third party assignee, other than an
Afliated Company, have agreed the nal conditions of an assignment,
the assignor shall disclose in details such nal conditions, including
the value of each assignment deal valued in U.S. Dollars, in a written
notication to EGPC. EGPC shall have the right to acquire the interest
intended to be assigned, if within ninety (90) days from assignor's
written notication, EGPC delivers to the assignor a written notication
‫صورة إ‬
that it accepts the same conditions agreed to with the proposed third
party assignee. If EGPC does not deliver such notication within such
ninety (90) day period, the assignor shall have the right to assign to the
‫لك‬
proposed third party assignee, subject to the Government’s approval
‫تروني‬
under paragraph (a) of this Article.
In the event that EGPC exercises its option to acquire the interest
intended to be assigned and if a "joint operating agreement" is not
‫ة ال يع‬
already existing among the CONTRACTOR MEMBERS including
the assignor, EGPC and CONTRACTOR shall negotiate in good
faith to enter into a joint operating agreement, according to the model
‫تد بها‬
published by the Association for International Petroleum Negotiators

to nalize such agreement within one hundred and twenty (120) days
from EGPC's notication. If EGPC and CONTRACTOR cannot agree
‫عند ا‬
on a joint operating agreement within such one hundred and twenty

(120) day period, the assignor shall have the right to assign to the
‫ل‬
proposed third party assignee, subject to the Government's approval

‫تداول‬
under paragraph (a) of this Article.

²°²² WM
dÇ Ébd'Ç ±´¸
ÊUÇè qJ ÁUuÇ v 5MUC 5MU{ Uë F tOÅ äÒUM*Çè äÒUM*Ç æuJ æÃ V (è)
çcN Uë Iè WB WQ kH äÒUM*Ç æÃ U*U ¬WOUHÇ çc Vu0 äèUI*Ç ÊUÇeÇè
.WOUHÇ
ÊËdAF«Ë WOU« …œU*«
˯ΎϐϟϹ΍ ΔρϠγϭ ΔϳϗΎϔΗϻΎΑ ϝϼΧϹ΍
v éÑuNL ÑÇd èÃ dQ äèUI*Ç vÅ W MU WOUHÇ çc ÁUGÅ v o(Ç WuJK (Ã)
-:WOÇ äÇu_Ç
ÑUÇ ÊUUOÇ çcN æUè WO dO ÊUUO WÃ WuJ(Ç vÅ rK s åb ÇÐÅ (±)
¬WOUHÇ çc åÇdÅ v édu
WÏU(Ç ÉÏU*Ç åUJ_ WHU WIdD WOUHÇ çc v WB WÃ s äÒUM ÇÐÅ (²)
¬sdAFÇè
¬WB WLJ s ÑÏU rJ t
Å dNÃ ÇÐÅ (³)
‫صورة إ‬
ÉdIHÇ åUJ_ Uë Iè X9 WOzUC ÊÇÁÇd WO Ñb vzUN ÑÇd éÃ cHM r ÇÐÅ (´)
¬sdAFÇè WFÇdÇ ÉÏU*Ç s (Ã)
`L U2 äèdÇ á æÏUF WÃ WuJ(Ç s hO d æèÏ ÇbL ë ‫لك‬
Ìd
Ç ÇÐÅ (µ)
‫تروني‬
ÊUOKLFK WO tÇd
Å VM& sJ1 U ÁUM
U pÐè ¬WOUHÇ çc t
V écÇè äèdÇ WUM v WuI*Ç äu Uë Iè WOUHÇ çc Vu0 WÑU'Ç
‫ة ال يع‬
è ¬sJ2 Xè Ùd
Ã v t UNOK2 èÃ WuJ(Ç ÑUD Å
WM ¶¶ rÑ æuUIÇ åUJ_ èÃ WOUHÇ çcN Wdu WHU WÃ VJÑÅ ÇÐÅ (¶)
‫تد بها‬
çc åUJÃ l ÖÑUF vÇ ²°±´ WM ±¹¸ rÑ æuUIU äbF*Ç ±¹µ³
.WOUHÇ
‫عند ا‬
äèUI*Ç q WuJK Xd b æuJ âuI WQ ä Å æèÏ ÁUGÇ Çc cHMè
lOL qIM æÃ äèUILK o ¬ÁUGÇ Çc WU vè ¬WOUHÇ çc åUJ_ Uë Iè
‫ل‬
‫تداول‬
.WIDM*Ç s WOBAÇ tUJK2

±´¹ ²°²² WM
dÇ Ébd'Ç
(f) As long as the assignor shall hold any interest under this Agreement,
the assignor together with the assignee shall be jointly and severally
liable for all duties and obligations of CONTRACTOR under this
Agreement.
ARTICLE XXII
BREACH OF AGREEMENT AND POWER TO CANCEL
(a) The GOVERNMENT shall have the right to cancel this Agreement
by Order or Presidential Decree, with respect to CONTRACTOR, in
the following instances:
(1) If it knowingly has submitted any false statements to the
GOVERNMENT which were of a material consideration for the
execution of this Agreement;
(2) If it assigns any interest hereunder contrary to the provisions of
Article XXI;
(3) If it is adjudicated bankrupt by a court of competent jurisdiction;
(4) If it does not comply with any nal decision reached as the result
‫صورة إ‬
of court proceedings conducted under Article XXIV (a);
(5) If it intentionally extracts any mineral other than Petroleum not
authorized by this Agreement or without the authority of the
‫لك‬
GOVERNMENT, except such extractions as may be unavoidable
as the result of the operations conducted hereunder in accordance
‫تروني‬
with accepted Petroleum industry practice and which shall be
notied to the GOVERNMENT or its representatives as soon as
‫ة ال يع‬
possible; and
(6) If it commits any material breach of this Agreement or of the
provisions of Law No. 66 of 1953, as amended by Law No. 189
‫تد بها‬
of 2014, which are not contradicted by the provisions of this

Agreement.
Such cancellation shall take place without prejudice to any
‫عند ا‬
rights which may have accrued to the GOVERNMENT

against CONTRACTOR in accordance with the provisions
of this Agreement, and, in the event of such cancellation,
‫ل‬
‫تداول‬
CONTRACTOR, shall have the right to remove from the Area all
its personal property.
²°²² WM
dÇ Ébd'Ç ±µ°
WOUHÇ çc ÁUG dcÇ WHU

ÈU
_Ç s Uë LàzU Uë
ãUM æÃ WuJ(Ç ÊQÑÇ ÇÐÅ ( È)
WuJ(Ç vK VO (sdAFÇè WUÇ ÉÏU*Ç v UNOÅ ÑUA*Ç ÉdUIÇ ÉuIÇ V
á)
vuUIÇ odDU Uë OB äèUILK åUFÇ dbLK q
d vU ÑUD S äèUI*Ç mK æÃ
ÒBè V Ç Çc WÇÒ ¬tLK
Ã b 5OuUIÇ tzè bÃ èÃ u tÃ X vL
dÇ
`Ã æÃ ÈU
_Ç s V
é_ Ëb ÇÐÅ sJè .Uë u (¹°) 5F éb v l{uÇ
Çc dA æS ¬dOOGÇ ÇcN ÑUD Ç åbè æÇuMFÇ dOOG V ë O mOKÇ Çc
WÇÒÅ r r ÇÐÅè .äèUILK Ò æÅ WU0 dF WuJK WOL
dÇ Ébd'U ÑUD Ç
tS ¬ÑUD Ç Éd vè Uë u (¹°) 5F Ç WUN v l{uÇ ÒBè V Ç Çc
.çdÐ nK
U u vK éÑuNL ÑÇd èÃ dQ ÑuHÇ vK WOUHÇ çc ÁUGÅ Òu
Uë &U l{uÇ ÒB åbèÃ tÇÒÇ åb èÃ V Ç Çc æU ÇÐÅ tÃ pÐ l ×dAè
WOUHÇ çc ÁUGÅ æS ¬áÇd _Ç bÃ VU s qL s ÙUMÇ èÃ qLF åUOIÇ s
.WOUHÇ çc v d Ç ádDÇ WNÇu v éd è jI ádDÇ pÐ WNÇu v éd
ÊËdAF«Ë WU« …œU*«
‫صورة إ‬
ΓέϫΎϘϟ΍ ΓϭϘϟ΍
ÑdI åÇeÇ éQ ÁUuÇ åb WOu s ¬ULbÃ èÃ UL ¬äèUI*Çè WONÇ vHF (Ã)
dO QÇ èÃ ÁUuÇ åb æU ÇÐÅ t ÁUuÇ v dO QÇ WOu s èÃ WOUHÇ çc Vu0
‫لك‬
UNdG
Ç vÇ Éb*Çè .ÉdUIÇ ÉuIÇ çc t{dH U Ïèb v pÐè ÉdU Éu s Uë U
‫تروني‬
QA Ñd{ éÃ Í WÒ æuJ b vÇ Éb*Ç l ÁUuÇ v dO QÇ èÃ ÁUuÇ åb
ÁUuÇè åÇeÇ ÇcN ÁUuK WOUHÇ çc v ÉÑdI*Ç Éb*Ç vÅ áUC dO QÇ Çc ä
‫ة ال يع‬
æuJ æÃ ×dA ¬WOUHÇ çc æUd

Éb vÅ WOFUè ¬tOK Vd d Â åÇeÇ éQ
ë
.WU(Ç çcN ÊdQ vÇ ÊUUDIÇ èÃ ÙUDIÇ vK ÇÑuBI pÐ
‫تد بها‬
Ëb U sdAFÇè WUÇ ÉÏU*Ç çc åuNH âUD v "ÉdUIÇ ÉuIÇ" ÉÑUF bBI (È)
ÊUÇdD{Ç s pÐ dOè ÈÇd{Å èÃ Èd èÃ VG èÃ æUOB èÃ Ïd9 éÃ èÃ ÇÑbèë ÁUC
‫عند ا‬
VU s äULÅ èÃ QD s Uë &U fO d Â V

éÃ èÃ ÊUUCO èÃ ozÇd èÃ WOUL
ë
æuJ æÃ ×dA ¬çdÐ nK
U* ÇdUG èÃ ë U2 æU ÁÇu
ULNM éÃ èÃ äèUI*Çè WONÇ
‫ل‬
tOK ÉdDO Ç ULNM éÃ èÃ äèUI*Çè WONÇ lOD U2 ÈU

_Ç çc s V
éÃ
‫تداول‬
.WuIF*Ç Ïèb(Ç v
±µ± ²°²² WM
dÇ Ébd'Ç
(b) If the GOVERNMENT deems that one of the aforesaid causes (other
than a force majeure cause referred to in Article XXIII) exists to cancel
this Agreement, the GOVERNMENT shall give CONTRACTOR
ninety (90) days written notice personally served on CONTRACTOR’s
General Manager in the legally ofcial manner and receipt of which is
acknowledged by him or by his legal agents, to remedy and remove
such cause; but if for any reason such service is impossible due
to unnotied change of address, publication in the Ofcial Journal
of the GOVERNMENT of such notice shall be considered as valid
service upon CONTRACTOR. If at the end of the said ninety (90)
day notice period such cause has not been remedied and removed, this
Agreement may be canceled forthwith by Order or Presidential Decree
as aforesaid; provided however, that if such cause, or the failure to
remedy or remove such cause, results from any act or omission of one
party, cancellation of this Agreement shall be effective only against
that party and not as against any other party hereto.
ARTICLE XXIII
‫صورة إ‬
FORCE MAJEURE
(a) The non-performance or delay in performance by EGPC and
CONTRACTOR, or either of them of any obligation under this
‫لك‬
Agreement shall be excused if, and to the extent that, such non-
‫تروني‬
performance or delay is caused by force majeure. The period of any
such non-performance or delay, together with such period as may be
‫ة ال يع‬
necessary for the restoration of any damage done during such delay,
shall be added to the time given in this Agreement for the performance
of such obligation and for the performance of any obligation dependent
thereon and consequently, to the term of this Agreement, but only with
‫تد بها‬
respect to the block or blocks affected.

(b) "Force Majeure" within the meaning of this Article XXIII, shall be any
‫عند ا‬
act of God, insurrection, riot, war, strike, and other labor disturbance,
res, oods or any cause not due to the fault or negligence of EGPC
and CONTRACTOR or either of them, whether or not similar to the
‫ل‬
‫تداول‬
foregoing, provided that any such cause is beyond the reasonable

control of EGPC and CONTRACTOR, or either of them.
²°²² WM
dÇ Ébd'Ç ±µ²
qL ¬WOUHÇ çc v pÐ á vK hM r Uè çdÐ o

U0 ä Ç åb l (Ì)
ÏuO èÃ ÑÇd{Ã WÃ s ULNM éÃ èÃ äèUI*Çè WONÇ q qJ éQ WOu WÃ WuJ(Ç
.ÉÏU*Ç çcN UNOÅ ÑUA*Ç ÉdUIÇ ÉuIÇ ÊU s WU( WO æuJ ÉÑU èÃ
WLzU ÊdL
Çè UN ÏÇbÇ éÃ èÃ WOè_Ç YÇ Éd ÁUMÃ ÉdUIÇ ÉuIÇ WU Xb ÇÐÅ (Ï)
WOUHÇ çcN Uë Iè tUÇeÇ vNM æÃ v ÑUO)Ç t æuJ äèUI*Ç æS dNÃ (¶) W
Éb*
WÃ qL æÃ æèÏ WONÇ vÅ tK
d Uë u (¹°) 5F o vU ÑUD Å Vu0
.Ùu éÃ s WOU{Å WOu
ÊËdAF«Ë WF«d« …œU*«
ϡϳϛΣΗϟ΍ϭ ΕΎϋίΎϧϣϟ΍
oKF ULO èÃ WOUHÇ çc s áÇd _Çè WuJ(Ç 5 QAM WUD èÃ á èÃ ÙÇe éÃ (Ã)
‫صورة إ‬
.Ù.å.Ì v WB*Ç rU;Ç vÅ äU UND èÃ UNzUNÅ èÃ UN ä U èÃ UN
.WOUHÇ çc ÏuM s bM éÃ cOHM èÃ dO H äu QAM b ÙÇe éÃ v qBHK
‫لك‬
èÃ WOUHÇ çc s WONÇè äèUI*Ç 5 QAM WUD èÃ á èÃ ÙÇe éÃ r (È)
‫تروني‬
bÇuI Uë I rOJÇ odD UND èÃ UNzUNÅ èÃ UN ä U èÃ UN oKF ULO
çc aÑU v WÑU Ç (ed*Ç) vèbÇ éÑUÇ rOJK vLOKÇ ÉdUIÇ ed rOJ%
‫ة ال يع‬
dFè .rOJÇ vÅ ÁuKÇ WONÇ ÊÑd ÇÐÅ äèdÇ dÒè WIÇu ×dAè WOUHÇ
.áÇd Uë eKè Uë OzUN 5LJ;Ç rJ
‫تد بها‬
.(³) W 5LJ;Ç Ïb æuJ æÃ V (Ì)

‫عند ا‬
ë
vb*Ç ÑUD S tOK vb*Ç rI r ÇÐÅè .ÇbÇè Uë LJ 5F æÃ ád q vK 5F (Ï)
vb*Ç ÑUD Å å
Å s Uë u (³°) 5 æuC v tMO écÇ rJ;Ç r
S Wë U
‫ل‬
‫تداول‬
.wUÇ rJ;Ç 5OF ed*Ç s VKD æÃ vbLKK ¬rJ 5OF

±µ³ ²°²² WM
dÇ Ébd'Ç
(c) Without prejudice to the above and except as may be otherwise

provided herein, the GOVERNMENT shall incur no responsibility
whatsoever to EGPC and CONTRACTOR, or either of them for any
damages, restrictions or loss arising in consequence of such case of
force majeure hereinafter referred to in this Article.
(d) If the force majeure event occurs during the initial Exploration period
or any extension thereof and continues in effect for a period of six (6)
months CONTRACTOR shall have the option upon ninety (90) days
prior written notice to EGPC to terminate its obligations hereunder
without further liability of any kind.
ARTICLE XXIV
DISPUTES AND ARBITRATION
(a) Any dispute, controversy or claim arising out of or relating to this
Agreement or the breach, termination or invalidity thereof, between
the GOVERNMENT and the parties shall be referred to the jurisdiction
‫صورة إ‬
of the appropriate courts of A.R.E. to settle any dispute arising on the
interpretation or the execution of any term of this Agreement.
(b) Any dispute, controversy or claim arising out of or relating to this
‫لك‬
Agreement, or breach, termination or invalidity thereof between
‫تروني‬
EGPC and CONTRACTOR shall be settled by arbitration in
accordance with the Arbitration Rules of the Cairo Regional Center
‫ة ال يع‬
for International Commercial Arbitration (the Center) in effect on the
date of this Agreement, the approval of the Minister of Petroleum
is provided in case EGPC only turn to arbitration. The award of the
‫تد بها‬
arbitrators shall be nal and binding on the parties.

(c) The number of arbitrators shall be three (3).
(d) Each party shall appoint one arbitrator. If, within thirty (30) days after
‫عند ا‬
receipt of the claimant's notication of the appointment of an arbitrator

the respondent has not notied the claimant in writing of the name of
‫ل‬
the arbitrator he appoints, the claimant may request the Center to

‫تداول‬
appoint the second arbitrator.

²°²² WM
dÇ Ébd'Ç ±µ´
æuJO
écÇ YUÇ rJ;Ç ÇÑU æÃ uMÇ Çc vK UMO scKÇ 5LJ;Ç vK 5F (à)
ä v fOzdÇ rJ;Ç ÑUO Å vK æULJ;Ç oH r ÇÐÅè .WLJLK fOzdÇ rJ;Ç
s VKD æÃ 5dDÇ s é_ Òu tS ¬wUÇ rJ;Ç 5OF s Uë u (³°) 5
çcè .5OFÇ vu WN 5F æÃ éU rOJK WLzÇbÇ WLJLK åUFÇ dOdJ Ç
³ ÉdIHK Uë Iè bOuÇ rJ;Ç UN 5F vÇ WIdDÇ fHM fOzdÇ rJ;Ç 5F WN'Ç
vèbÇ ÉÑUÇ æuUI Éb*Ç 3_Ç WMK WU)Ç rOJÇ bÇu s (¶) ÉÏU*Ç s
WO M dO WO M s Uë B fOzdÇ rJ;Ç Çcàà æuJ æÃ 5Fè .(äÇd u)
WO
UuKÏ ÊU UN WèÏ s æuJ æÃ Vè äèUI*Ç WO M èÃ WOdFÇ dB WÑuNL
ÙB t æuààJ Ã ×dA UL ¬äèUI*Ç WO Mè WOdFÇ dB WÑuNL s q í l
.WOUHÇ çc vK WFu*Ç áÇd _Ç éb äèdÇ äULÃ v WÏUBÇ
oH r U .Ù.å.Ì v ÉdUIÇ WMb0 ¬åUJ_Ç ÑÇbÅ pÐ v U0 ¬rOJÇ éd (è)
.pÐ áààà vK rOJÇ áÇd Ã
qzU *Ç qè rOJÇ ÊUèdB pÐ v U0 áÇd Uë eKè Uë OzUN 5LJ;Ç rJ æuJ (Ò)
æuUIÇ åUJ_ Uë Iè WB*Ç WLJ;Ç åUÃ 5LJ;Ç rJ cOHM æuJè ¬t WIKF*Ç
‫صورة إ‬
.êdB*Ç
WàààààdBàà*Ç 5ÇuIÇ 5 á éÃ WU v tÃ dO¬ÙÇeMÇ vK édB*Ç æuUàààIÇ oààD (Í)
‫لك‬
và (rOJÇ h pÐ v U0) WOUHÇ çc ÕuB æS ¬WOUHÇ çc ÕuBè
‫تروني‬
.WeOK$Çè WOdFÇ 5GKU rOJÇ rè .rJ% vÇ
rOJÇ ÁÇdÅ ÈU
_Ç s V
é_ ÑcF ÇÐÅ tÃ vK äèUI*Çè WONÇ 5 âUHÇ r (×)
‫ة ال يع‬
QAM vÇ ÊUUD*Ç èÃ ÊU)Ç èÃ ÊUÒUM*Ç q æS ¬tOU ÉÑuc*Ç ÊÇÁÇd Uë I
WD
Çu UNO qBH UND èÃ UNzUNÅ èÃ UN ä Ç èÃ WOUHÇ çcN oKF èÃ s
.æUd Ç aÑU Xè ÉcUMÇ (äÇd u) bÇuI Uë I rEM dO rOJ%
‫تد بها‬
ÊËdAF«Ë W U)« …œU*«

ϑ΍έρϸϟ ϰϧϭϧΎϘϟ΍ ϊοϭϟ΍
‫عند ا‬
çc Vu0 äèUI*Çè WONU WU)Ç ÊUOu *Çè ÊUÇeÇè ÊUÇuÇè âuI(Ç dF (Ã)
çc d H æÃ Òu tÃ åuNH*Ç sè .WOULè WOMUC dOè WKBHM WOUHÇ
‫ل‬
‫تداول‬
.sUC Wd èÃ äÇuÃ Wd èÃ ÕUÃ Wd åUO vÅ éÏR UNÅ vK WOUHÇ
±µµ ²°²² WM
dÇ Ébd'Ç
(e) The two arbitrators thus appointed shall choose the third arbitrator who
will act as the presiding arbitrator of the tribunal. If within thirty (30)
days after the appointment of the second arbitrator, the two arbitrators
have not agreed upon the choice of the presiding arbitrator, then either
party may request the Secretary General of the Permanent Court of
Arbitration at the Hague to designate the appointing authority. Such
appointing authority shall appoint the presiding arbitrator in the
same way as a sole arbitrator would be appointed under Article 6.3
of the UNCITRAL Arbitration Rules. Such presiding arbitrator shall
be a person of a nationality other than A.R.E. or CONTRACTOR's
nationality and of a country which has diplomatic relations with both
A.R.E. and CONTRACTOR's nationality and who shall have no
economic interest in the Petroleum business of the signatories hereto.
(f) Unless otherwise agreed by the parties to the arbitration, the arbitration,
including the making of the award, shall take place in Cairo, A.R.E..
(g) The decision of the arbitrators shall be nal and binding upon the
Parties, including the arbitration fees and all the related issues and the
‫صورة إ‬
execution of the arbitrators decision shall be referred to the appropriate
courts according to the Egyptian laws.
(h) Egyptian Law shall apply to the dispute except that in the event of any
conict between Egyptian Laws and this Agreement, the provisions of
‫لك‬
this Agreement (including the arbitration provision) shall prevail. The
‫تروني‬
arbitration shall be conducted in both Arabic and English languages.
(i) EGPC and CONTRACTOR shall agree that if, for whatever reason,
‫ة ال يع‬
arbitration in accordance with the above procedure cannot take place,
all disputes, controversies or claims arising out of or relating to this
Agreement or the breach, termination or invalidity thereof shall be
settled by ad hoc arbitration in accordance with the UNCITRAL Rules
‫تد بها‬
in effect on the Effective Date.

ARTICLE XXV
‫عند ا‬
STATUS OF PARTIES
(a) The rights, duties, obligations and liabilities in respect of EGPC and
CONTRACTOR hereunder shall be several and not joint or collective,
‫ل‬
‫تداول‬
it being understood that this Agreement shall not be construed as

constituting an association or corporation or partnership.
²°²² WM
dÇ Ébd'Ç ±µ¶
vuUIÇ tàààUOJ oKF UàààLO pÐè UN fààà

Q vÇ WN'Ç 5àààÇuI äèUàààI*Ç làààC (È)
tU ÓÃÑ rNààà
Ã WOJKè WOààà
U
_Ç tzè tààà O
Q bIè tàààLOEM èÃ tààà O
Q èÃ
.tOJK âuIè
UL . Ù.å.Ì q ÇÏ ÌÑU)Ç v UNKLQ ÉÏuu*Ç äèUI*Ç äUL
ÃÑ rN
Ã äèÇb Òu è
WÃ èÃ äU*Ç ÓÃÑ rN
Ã vK WGbÇ WdC lCè åUFÇ ÈU UNd Òu
.Ù.å.Ì v äèUI*Ç uC/äèUI*Ç t åuI ádB éÃè ¬.Ù.å.Ì v åu
Ñ èÃ éd Ã Wd{
äU ÓÃÑ s tB vK äèUI*Ç uC/äèUI*Ç ÉdDO
dOOG tQ s .Ù.å.Ì ÌÑU èÃ
"`M*Ç" WF
UÇ ÉÏU*Ç h v ÉÏÑÇuÇ åUJ_Çè ÊÇÁÇdÇ ÊÇc UF{U æuJ WdAÇ
±µ¹ rÑ æuUIÇ åUJÃ oOD s äèUI*Ç vHFè ."äÒUMÇ" sdAFÇè WÏU(Ç ÉÏU*Çè
.äbF*Ç ±¹¸± WM
5MU{ äèUI*Ç ÁUCÃ lOL dF ¬uC s dÃ s æuJ äèUI*Ç æU ÇÐÅ WU v (Ì)
.WOUHÇ çc v UNOK ÕuBM*Ç äèUI*Ç ÊUÇeU ÁUuÇ v 5MUC
‫صورة إ‬
ÊËdAF«Ë W
œU « …œU*«
˱ ΎϳϠΣϣ Δϋϭϧλϣϟ΍ Ω΍ϭϣϟ΍ϭ ϥϭϳϠΣϣϟ΍ ϥϭϟϭΎϘϣϟ΍
:wK U ÉUÇd rNOèUIè ¬äÇu_Ç V ¬ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç vK V
‫لك‬
‫تروني‬
WONK WFUÇ ÊUdAÇ pÐ v U0 s UÇ s 5èUI*Çè 5OK;Ç 5èUILK Wuè_Ç ÁUDÅ (Ã)
be rNUb ÑUF
Ã æÃè Uë OèÏ ÉbzU Ç ÁÇÏ_Ç WÑÏ l WKUL rNzÇÏÃ WÑÏ XÇÏ U
‫ة ال يع‬
.(¥±°) WzU*Ç v ÉdA sdQ sd Ç s UÇ s 5èUI*Çè 5èUI*Ç ÑUF
Ã vK
WON
Ç lK Çè ÊÇè ÊÇbF*Ç Çcè Uë OK WuMB*Ç ÏÇuLK WOKC_Ç ÁUDÅ (È)
lK Çè ÊÇè ÊÇbF*Çè ÏÇu*Ç l rOK Ç bOÇuè ÉÏu'Ç WOU s WKUL UNÃ U*U
‫تد بها‬
lK Çè ÊÇè ÊÇbF*Çè ÏÇu*Ç çc ÏÇdO

Ç Òu pÐ lè .Uë OèÏ ÉdÇu*Ç WON
Ç
¬WOK;Ç UÑUF
Ã XU ÇÐÅ WOUHÇ çc vCI0 éd& vÇ ÊUOKLFK WON
Ç
‫عند ا‬
s dQ be .Ù.å.Ì v ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç ÊUOKL dI rOK
sJè WOdL'Ç åu
dÇ WU{Å q ¬ÏÑu *Ç UNKO dF
s (¥±°) WzU*Ç v ÉdA
‫ل‬
‫تداول‬
.5QÇè qIMÇ nÑUB WU{Å bF

±µ· ²°²² WM
dÇ Ébd'Ç
(b) CONTRACTOR shall be subject to the laws of the place where it is

incorporated regarding its legal status or creation, organization, charter
and by-laws, shareholding, and ownership.
CONTRACTOR’s shares of capital which are entirely held abroad
shall not be negotiable in the A.R.E. and shall not be offered for
public subscription nor shall be subject to the stamp tax on capital
shares nor any tax or duty in the A.R.E.. Any procedure carried out
by CONTRACTOR/CONTRACTOR Member in A.R.E. or outside
A.R.E. that leads to change of control of the CONTRACTOR/
CONTRACTOR Member on its share in the company's capital, shall
be subject to the procedures and provisions of Article IX" Bonuses"
and Article XXI "Assignment". CONTRACTOR shall be exempted
from the application of Law No. 159 of 1981 as amended.
(c) In case CONTRACTOR consists of more than one member, all
CONTRACTOR Members shall be jointly and severally liable for
the performance of the obligations of CONTRACTOR under this
Agreement.
ARTICLE XXVI
‫صورة إ‬
LOCAL CONTRACTORS AND
LOCALLY MANUFACTURED MATERIAL
CONTRACTOR or Operating Company, as the case may be, and their
contractors shall: ‫لك‬
‫تروني‬
(a) Give priority to local contractors and sub-contractors, including EGPC’s
Afliated Companies as long as their performance is comparable
with international performance and the prices of their services are
‫ة ال يع‬
not higher than the prices of other contractors and sub-contractors by
more than ten percent (10%).
(b) Give preference to locally manufactured material, equipment, machinery
‫تد بها‬
and consumables so long as their quality and time of delivery are

comparable to internationally available material, equipment, machinery
and consumables. However, such material, equipment, machinery and
‫عند ا‬
consumables may be imported for operations conducted hereunder

if the local price of such items at CONTRACTOR's or Operating
Company's operating base in A.R.E. is more than ten percent (10%)
‫ل‬
‫تداول‬
higher than the price of such imported items before customs duties,
but after transportation and insurance costs have been added.
²°²² WM
dÇ Ébd'Ç ±µ¸
ÊËdAF«Ë WFU « …œU*«

ϰΑέόϟ΍ ιϧϟ΍
rU;Ç åUÃ UNKèQ èÃ WOUHÇ çc dO H v ld*Ç u WOUHÇ çcN vdFÇ hMÇ
WONÇ 5 rOJ% éÃ vÅ ÁUÇ WU v tÃ ¬pÐ l ¬×dAè ¬.Ù.å.Ì v WB*Ç
vdFÇ 5BMÇ s q vÅ ld ¬dcÇ WHU
sdAFÇè WFÇdÇ ÉÏU*Ç hM Uë Iè äèUI*Çè
.WOUHÇ çc qèQ èÃ dO H v ÉuIÇ fH ULN æuJè éeOK$Çè
ÊËdAF«Ë WMU« …œU*«
ΕΎϳϣϭϣϋ
ë ON WOUHÇ çc ÏÇu s ÉÏU qJ tu{u*Ç sèUMFÇ èÃ ÊUu{u*Ç ÓèÄÑ XKLF
Ç
.ÏÇu*Ç çc dO H WOuB v qLF è jI WOUHÇ áÇd _
‫صورة إ‬
ÊËdAF«Ë WF
U« …œU*«
ΔϳϗΎϔΗϻ΍ Φγϧ
‫لك‬
äuÃ (³) W WONÇè WuJ(Ç kH% WKU2 äuÃ (´) WFÑÃ s WOUHÇ çc ÊÑd
‫تروني‬
.åèeKÇ bM UNu0 qLFK pÐè WOUHÇ çc s (±) bÇè qQà äèUI*Ç kHè
Êuö« …œU*«
‫ة ال يع‬
ϰϧϭϧΎϘϟ΍ έϘϣϟ΍
lOL æÃè ULN ÑU*Ç q;Ç u WOUHÇ çc ÑbB ULNM q sd æÇuMFÇ æQ æUdDÇ dÃ
‫تد بها‬
lOL' WMè WO æÇuMFÇ Çc vK ULNM qJ sKF q

d vÇ Ê
Çd*Çè ÊUUJ*Ç
‫عند ا‬
tÇuMF d Ç ádDÇ ÑUD Å WOK 5F tÇuMF 5dDÇ bÃ dOOG WU vè WOuUIÇ UÑUÂ
WMè WO æÇuMFÇ Çc Ê
Çd ÊdÇ Åè äuuÇ rKF tOK vu ÈUD Vu0
‫ل‬
‫تداول‬
.WOuUIÇ UÑUÂ lOL'

±µ¹ ²°²² WM
dÇ Ébd'Ç
ARTICLE XXVII
ARABIC TEXT
The Arabic version of this Agreement shall, before the appropriate courts
of A.R.E., be referred to in construing or interpreting this Agreement;
provided however , that in any arbitration pursuant to Article XXIV herein
above between EGPC and CONTRACTOR the English and Arabic
versions shall both be referred to as having equal force in construing or
interpreting this Agreement.
ARTICLE XXVIII
GENERAL
The headings or titles to each of the Articles to this Agreement are solely
for the convenience of the parties hereto and shall not be used with respect
to the interpretation of said Articles.
ARTICLE XXIX
‫صورة إ‬
COPIES OF THE AGREEMENT
This Agreement is issued of four (4) identical originals, the Government and
‫لك‬
EGPC retain three (3) originals, CONTRACTOR retains one (1) original
‫تروني‬
of this Agreement to act in accordance to its provisions if necessary.
ARTICLE XXX
‫ة ال يع‬
LEGAL HEADQUARTERES
The parties approved that the address supplemented to their entity in
the preface is their chosen address for notication, all notices sent and
‫تد بها‬
correspondences received in such address are considered valid with

the outcome of all its legitimate effects. In the event any of the parties
‫عند ا‬
changes the aforesaid address, such Party shall notify the other Party by
a registered letter upon receipt otherwise, the correspondence only sent to
‫ل‬
the aforementioned address is to be considered valid with the outcome of

‫تداول‬
all its legitimate effects.

²°²² WM
dÇ Ébd'Ç ±¶°
Êuö«Ë b«u« …œU*«

ΔϳϗΎϔΗϼϟ ΔϣϭϛΣϟ΍ ΩΎϣΗϋ΍
WB*Ç ÊUN'Ç s æuU ÑbB æÃ vÅè r U UNÇd Ã s é_ WeK WOUHÇ çc æuJ
qU WOUHÇ çc vK vHCè WOUHÇ çc vK lOuÇ äèdÇ dÒu äu .Ù.å.Ì v
s WOUHÇ lOu bFè UN nU vuJ ldA éÃ s dEMÇ iG çdÃè æuUIÇ Éu
.äèUI*Çè WONÇè WuJ(Ç
ϝϭέΗΑϟ΍ ΔϳϣϧΗϭ ϑΎηϛΗγϻ Δϳέλϣϟ΍ Δϳϧρϭϟ΍ Δϛέηϟ΍

ΎϬϧϋ
ργΎΑϟ΍ ΩΑϋ ΢ϳΎγϟ΍ ργΎΑϟ΍ ΩΑϋ:αΩϧϬϣ ˯΍ϭϟ Ωϳγϟ΍
ΏΩΗϧϣϟ΍ ϭοόϟ΍ϭ Γέ΍ΩϹ΍ αϠΟϣ αϳ΋έ :ϪΗϔλΑ
‫صورة إ‬
................................................... :ϊϳϗϭΗϟ΍
ϝϭέΗΑϠϟ ΔϣΎόϟ΍ Δϳέλϣϟ΍ Δ΋ϳϬϟ΍
ΎϬϧϋ
‫لك‬
‫تروني‬
ϝρΑϟ΍ ˯ϼϋ:ϲΟϭϟϭϳΟϟ΍ Ω˰˰ϳγϟ΍
ϱΫϳϔϧΗϟ΍ αϳ΋έϟ΍ :ϪΗϔλΑ
‫ة ال يع‬
................................................... :ϊϳϗϭΗϟ΍
ΔϳΑέόϟ΍ έλϣ ΔϳέϭϬϣΟ
‫تد بها‬
ΎϬϧϋ
ϼϣϟ΍ ϕέΎρ :αΩϧϬϣϟ΍ Ω˰˰ϳγϟ΍
‫عند ا‬
ΔϳϧΩόϣϟ΍ ΓϭέΛϟ΍ϭ ϝϭέΗΑϟ΍ έϳίϭ : ϪΗϔλΑ

................................................... :ϊϳϗϭΗϟ΍
‫ل‬
‫تداول‬
............................................... : ΦϳέΎ˰˰˰Ηϟ΍
±¶± ²°²² WM
dÇ Ébd'Ç
ARTICLE XXXI
APPROVAL OF THE GOVERNMENT
This Agreement shall not be binding upon any of the parties hereto
unless and until a law is issued by the competent authorities of the
A.R.E. authorizing the Minister of Petroleum to sign this Agreement
and giving this Agreement full force and effect of law notwithstanding
any countervailing Governmental enactment, and the Agreement is signed
by the GOVERNMENT, EGPC, and CONTRACTOR.
EGYPTIAN NATIONAL PETROLEUM FOR EXPLORATION AND
DEVELOPMENT COMPANY
By
Engineer Major General : Abdelbasat Elsayah Abdelbasat
In his capacity: Chairman of the Board and Managing Director
‫صورة إ‬
Signature: ---------------------------------------
EGYPTIAN GENERAL PETROLEUM CORPORATION
By
Geologist: Alaa El Batal ‫لك‬
‫تروني‬
In his capacity: Chief Executive Ofcer
Signature: ---------------------------------------
‫ة ال يع‬
ARAB REPUBLIC OF EGYPT

By
‫تد بها‬
Engineer: Tarek El Molla

In his capacity: Minister of Petroleum and Mineral Resources
‫عند ا‬
Signature: ----------------------------------
Date: -----------------------------------------
‫ل‬
‫تداول‬
²°²² WM
dÇ Ébd'Ç ±¶²
"CG" ≥ë∏ŸG
ΩGõ````àdG á«bÉ``````````ØJG
¬dÓ```````¨à°SGh ∫hÎ`````ÑdG ø````Y åë``````Ñ∏d
ÚH
á«Hô```©dG ô```°üe ájQƒ``¡ªL
h
∫hÎ````Ñ∏d áeÉ``©dG ájô°ü``ŸG áÄ```«¡dG
h
∫hÎÑdG á«ªæJh ±É°ûµà°S’ ájô°üŸG á«æWƒdG ácô°ûdG
»```à
IQÉ£b ¢SCGQ ÜƒæL á≤£æe
‫صورة إ‬
á«Hô¨dG AGôë°üdÉH
.´.Ω.ê
‫لك‬
‫تروني‬
ϡ΍ίΗϟϻ΍ ΔϘρϧϣ ΩϭΩΣ ϑλϭ
vÇ WIDM*Ç 5 ¶°°[°°° :± vdI r
Ñ ÓUOI0 WOzbè WOO{u WDd (È) oK
‫ة ال يع‬
.WOUHÇ çc UNLJ%è UNODG

.Uë dI (²r ²·°·) ld d uKO WF
è WzULF
è æUHÃ vÇuàà WIDM*Ç WU mK -
‫تد بها‬
vK WdF WKUJÇ YÇ ÊUUD èÃ Y ÊUUD s Áe èÃ q s æuJ vè
.äuDÇè ÖdFÇ ×uD s ozUÏ (³) Ë v ozUÏ (³) Ë WJ
‫عند ا‬
WOO{u ×uD éu
X O "È" oK*Ç v WIDM*Ç Ïb% vÇ ×uD)Ç æÃ k*Ç sè -
ÑUx W MU ÊUUDIÇ pK vIOI(Ç lu*Ç WbÇ tè vK 5 bè jI WOzbè
‫ل‬
‫تداول‬
.ÉÏuu*Ç WOÇdG'Ç rUF*Çè

±¶³ ²°²² WM
dÇ Ébd'Ç
ANNEX "A"
CONCESSION AGREEMENT
FOR PETROLEUM
EXPLORATION AND EXPLOITATION
BETWEEN
THE ARAB REPUBLIC OF EGYPT
AND
THE EGYPTIAN GENERAL PETROLEUM CORPORATION
AND
EGYPTIAN NATIONAL PETROLEUM FOR EXPLORATION
AND DEVELOPMENT COMPANY
IN
‫صورة إ‬
WESTERN DESERT
A.R.E.
BOUNDARY DESCRIPTION OF THE CONCESSION AREA ‫لك‬

‫تروني‬
Annex "B" is a provisional illustrative map at an approximate scale of
1 : 600,000 showing the Area covered and affected by this Agreement.
‫ة ال يع‬
- The Area measures approximately two thousand seven hundred and
seven square kilometers (2707 km2) of surface Area. It is composed of
‫تد بها‬
all or part of Exploration Blocks, the whole Blocks are dened on three
(3) minutes latitude by three (3) minutes longitude grid.
- It is to be noted that the delineation lines of the Area in Annex "B"
‫عند ا‬
are intended to be only illustrative and provisional and may not show
accurately their true position in relation to existing monuments and
‫ل‬
‫تداول‬
geographical features.
²°²² WM
dÇ Ébd'Ç ±¶´
ë
ÇÁeàà dààF écààÇè WààIDMLK WààOMdÇ ×UààIMÇ ÊUOÇb ë èbà vàK UààLO ÏÑuààè
-:"Ã" oàK*Ç sà Ãeà
ΩϭΩ˰˰Σ ΕΎϳΛ΍ΩΣ·
ΓέΎρϗ α΃έ ΏϭϧΟ ΔϘρϧϣ
ΔϳΑέϐϟ΍ ˯΍έΣλϟΎΑ
ϝϭ˰˰˰˰˰˰˰ρ ρ˰˰˰˰˰˰Χ νέ˰˰˰˰˰˰ϋ ρ˰˰˰˰˰˰˰Χ Δ˰˰˰˰ρϘϧ

°²· '²· "°°[°° °³° '°¹ "°°[°° ±
°²· '²· "°°[°° °³° '°¶ "°°[°° ²
°²· '²¸ "°°[°° °³° '°¶ "°°[°° ³
°²· '²¸ "°°[°° °³° '°µ "°°[°° ´
°²· '²¹ "°°[°° °³° '°µ "°°[°° µ
°²· '²¹ "°°[°° °³° '°´ "°°[°° ¶
‫صورة إ‬
°²· '³° "°°[°° °³° '°´ "°°[°° ·
°²· '³° "°°[°° °³° '°² "°°[°° ¸
°²· '³´ "°°[°° °³° '°² "°°[°° ¹
°²· '³´ "°°[°° °³° '°± "°°[°° ‫لك‬ ±°
‫تروني‬
°²· '³³ "°°[°° °³° '°± "°°[°° ±±
°²· '³³ "°°[°° °³° '°° "°°[°° ±²
‫ة ال يع‬
°²· '³´ "°°[°° °³° '°° "°°[°° ±³
°²· '³´ "°°[°° °²¹ 'µ¹ "°°[°° ±´
‫تد بها‬
°²· '³µ "°°[°° °²¹ 'µ¹ "°°[°° ±µ

°²· '³µ "°°[°° °³° '°± "°°[°° ±¶
°²· '³¸ "°°[°° °³° '°± "°°[°° ±·
‫عند ا‬
°²· '³¸ "°°[°° °³° '°° "°°[°° ±¸

°²· '³· "°°[°° °³° '°° "°°[°° ±¹
‫ل‬
‫تداول‬
°²· '³· "°°[°° °²¹ 'µ¸ "°°[°° ²°

±¶µ ²°²² WM
dÇ Ébd'Ç
Coordinates of the corner points of the Area are given in the following
table which forms an integral part of Annex "A":-
BOUNDARY COORDINATES
OF
WESTERN DESERT
POINT NO. LATITUDE LONGITUDE

1 30° 09' 00.00" 27° 27' 00.00"
2 30° 06' 00.00" 27° 27' 00.00"
3 30° 06' 00.00" 27° 28' 00.00"
4 30° 05' 00.00" 27° 28' 00.00"
5 30° 05' 00.00" 27° 29' 00.00"
6 30° 04' 00.00" 27° 29' 00.00"
‫صورة إ‬
7 30° 04' 00.00" 27° 30' 00.00"
8 30° 02' 00.00" 27° 30' 00.00"
9 30° 02' 00.00" 27° 34' 00.00"
10 30° 01' 00.00"
‫لك‬
27° 34' 00.00"
‫تروني‬
11 30° 01' 00.00" 27° 33' 00.00"
12 30° 00' 00.00" 27° 33' 00.00"
‫ة ال يع‬
13 30° 00' 00.00" 27° 34' 00.00"

14 29° 59' 00.00" 27° 34' 00.00"
‫تد بها‬
15 29° 59' 00.00" 27° 35' 00.00"

16 30° 01' 00.00" 27° 35' 00.00"
‫عند ا‬
17 30° 01' 00.00" 27° 38' 00.00"

18 30° 00' 00.00" 27° 38' 00.00"
‫ل‬
19 30° 00' 00.00" 27° 37' 00.00"

‫تداول‬
20 29° 58' 00.00" 27° 37' 00.00"

²°²² WM
dÇ Ébd'Ç ±¶¶
ϝϭ˰˰˰˰˰˰˰ρ ρ˰˰˰˰˰˰Χ νέ˰˰˰˰˰˰ϋ ρ˰˰˰˰˰˰˰Χ Δ˰˰˰˰ρϘϧ

°²· '³¹ "°°[°° °²¹ 'µ¸ "°°[°° ²±
°²· '³¹ "°°[°° °²¹ 'µ± "°°[°° ²²
°²· '´² "°°[°° °²¹ 'µ± "°°[°° ²³
°²· '´² "°°[°° °²¹ '´² "°°[°° ²´
°²¸ '°° "°°[°° °²¹ '´² "°°[°° ²µ
°²¸ '°° "°°[°° °²¹ '´° "°°[°° ²¶
°²· 'µ¹ "°°[°° °²¹ '´° "°°[°° ²·
°²· 'µ¹ "°°[°° °²¹ '´± "°°[°° ²¸
°²· 'µ¸ "°°[°° °²¹ '´± "°°[°° ²¹
°²· 'µ¸ "°°[°° °²¹ '´° "°°[°° ³°
°²· 'µ· "°°[°° °²¹ '´° "°°[°° ³±
°²· 'µ· "°°[°° °²¹ '³¹ "°°[°° ³²
‫صورة إ‬
°²· 'µ¸ "°°[°° °²¹ '³¹ "°°[°° ³³
°²· 'µ¸ "°°°[°° °²¹ '³¸ "°°[°° ³´
°²¸ '°° "°°[°° °²¹ '³¸ "°°[°° ³µ
‫لك‬
‫تروني‬
°²¸ '°° "°°[°° °²¹ '³° "°°[°° ³¶
°²· '²´ "°°[°° °²¹ '³° "°°[°° ³·
°²· '²´ "°°[°° °²¹ '´¸ "°°[°° ³¸
‫ة ال يع‬
°²· '²± "°°[°° °²¹ '´¸ "°°[°° ³¹

°²· '²± "°°[°° °²¹ 'µ± "°°[°° ´°
‫تد بها‬
°²· '²´ "°°[°° °²¹ 'µ± "°°[°° ´±

°²· '²´ "°°[°° °²¹ 'µ´ "°°[°° ´²
‫عند ا‬
°²· '²± "°°[°° °²¹ 'µ´ "°°[°° ´³

°²· '²± "°°[°° °²¹ 'µ¹ "°°[°° ´´
‫ل‬
°²· '±µ "±²[°° °²¹ 'µ¹ "°°[°° ´µ

‫تداول‬
°²· '±µ "µ°[°° °²¹ 'µ¶ "°°[°° ´¶

±¶· ²°²² WM
dÇ Ébd'Ç

21 29° 58' 00.00" 27° 39' 00.00"
22 29° 51' 00.00" 27° 39' 00.00"
23 29° 51' 00.00" 27° 42' 00.00"
24 29° 42' 00.00" 27° 42' 00.00"
25 29° 42' 00.00" 28° 00' 00.00"
26 29° 40' 00.00" 28° 00' 00.00"
27 29° 40' 00.00" 27° 59' 00.00"
28 29° 41' 00.00" 27° 59' 00.00"
29 29° 41' 00.00" 27° 58' 00.00"
30 29° 40' 00.00" 27° 58' 00.00"
31 29° 40' 00.00" 27° 57' 00.00"
32 29° 39' 00.00" 27° 57' 00.00"
‫صورة إ‬
33 29° 39' 00.00" 27° 58' 00.00"
34 29° 38' 00.00" 27° 58' 00.00"
35 29° 38' 00.00" 28° 00' 00.00"
‫لك‬
‫تروني‬
36 29° 30' 00.00" 28° 00' 00.00"
37 29° 30' 00.00" 27° 24' 00.00"
‫ة ال يع‬
38 29° 48' 00.00" 27° 24' 00.00"
39 29° 48' 00.00" 27° 21' 00.00"
40 29° 51' 00.00" 27° 21' 00.00"
‫تد بها‬
41 29° 51' 00.00" 27° 24' 00.00"

42 29° 54' 00.00" 27° 24' 00.00"
‫عند ا‬
43 29° 54' 00.00" 27° 21' 00.00"

44 29° 59' 00.00" 27° 21' 00.00"
‫ل‬
45 29° 59' 00.00" 27° 15' 12.00"

‫تداول‬
46 29° 56' 00.00" 27° 15' 50.00"

²°²² WM
dÇ Ébd'Ç ±¶¸
ϝϭ˰˰˰˰˰˰˰˰˰ρ ρ˰˰˰˰˰˰˰Χ νέ˰˰˰˰˰˰˰ϋ ρ˰˰˰˰˰Χ Δ˰˰˰˰ρϘϧ

°²· '±± "°°[°° °²¹ 'µ¶ "°°[°° ´·
°²· '±± "°°[°° °³° '°² "³°[°° ´¸
°²· '°¹ "°°[°° °³° '°² "³°[°° ´¹
°²· '°¹ "°°[°° °³° '°µ "°°[°° µ°
°²· '±³ "°°[°° °³° '°µ "°°[°° µ±
°²· '±³ "°°[°° °³° '°¶ "°°[°° µ²
°²· '±¶ "°°[°° °³° '°¶ "°°[°° µ³
°²· '±¶ "°°[°° °³° '°· "°°[°° µ´
°²· '±· "°°[°° °³° '°· "°°[°° µµ
°²· '±· "°°[°° °³° '°¸ "°°[°° µ¶
°²· '±¸ "°°[°° °³° '°¸ "°°[°° µ·
°²· '±¸ "°°[°° °³° '°µ "°°[°° µ¸
‫صورة إ‬
°²· '²± "°°[°° °³° '°µ "°°[°° µ¹
°²· '²± "°°[°° °³° '°¸ "°°[°° ¶°
°²· '²° "°°[°° °³° '°¸ "°°[°° ¶±
°²· °³°
‫لك‬
‫تروني‬
'²° "°°[°° '°¹ "°°[°° ¶²
. ΔΣϠγϣϟ΍ Ε΍ϭϘϟ΍ ΕΎϳϠϣϋ Δ΋ϳϫ ΕΎϘϓ΍ϭϣϭ ΕϼϳΩόΗϟ ϊοΧΗ ϑϭγ ΎϬΑ ΔλΎΧϟ΍ ΕΎϳΛ΍ΩΣϹ΍ϭ ΔϘρϧϣϟ΍ ΩϭΩΣ **
‫ة ال يع‬
‫تد بها‬
‫ل‬ ‫عند ا‬
‫تداول‬
±¶¹ ²°²² WM
dÇ Ébd'Ç

47 29° 56' 00.00" 27° 11' 00.00"
48 30° 02' 30.00" 27° 11' 00.00"
49 30° 02' 30.00" 27° 09' 00.00"
50 30° 05' 00.00" 27° 09' 00.00"
51 30° 05' 00.00" 27° 13' 00.00"
52 30° 06' 00.00" 27° 13' 00.00"
53 30° 06' 00.00" 27° 16' 00.00"
54 30° 07' 00.00" 27° 16' 00.00"
55 30° 07' 00.00" 27° 17' 00.00"
56 30° 08' 00.00" 27° 17' 00.00"
57 30° 08' 00.00" 27° 18' 00.00"
58 30° 05' 00.00" 27° 18' 00.00"
‫صورة إ‬
59 30° 05' 00.00" 27° 21' 00.00"
60 30° 08' 00.00" 27° 21' 00.00"
61 30° 08' 00.00" 27° 20' 00.00"
‫لك‬
‫تروني‬
62 30° 09' 00.00" 27° 20' 00.00"
** The Boundaries and Coordinates of the Area shall be subject to the amendments
‫ة ال يع‬
and approvals of the Armed Forces Operations Authority.
‫تد بها‬
‫تداول‬
²°²² WM
dÇ Ébd'Ç ±·°
‫لك‬ ‫صورة إ‬
‫تروني‬
‫ة ال يع‬
‫تد بها‬
‫تداول‬
SCALE 1:600.000 ˿˹˹̄˹˹˹ : ˺ ϡγέϟ΍ αΎϳϘϣ

±·± ²°²² WM
dÇ Ébd'Ç
‫تروني‬
‫ة ال يع‬
‫تد بها‬
‫تداول‬
SCALE 1:600.000 ˿˹˹̄˹˹˹ : ˺ ϡγέϟ΍ αΎϳϘϣ

²°²² WM
dÇ Ébd'Ç ±·²
" ˺-Ν " ϕΣϠϣϟ΍

ϥΎϣοϟ΍ ΏΎρΧ
(²°------------ v ÉdUIÇ) --------- rÑ æULCÇ ÈUD
ΩόΑϭ ΔΑϳρ ΔϳΣΗ
WF{U)Çè WOdFÇ dB WÑuNL WKUFÇ ãuMÇ bÃ èÃ) édB*Ç vK_Ç pMÇ çUÏÃ lu*Ç
WÑuNL' vULzÇ nOMBÇ s qI vULzÇ nOMB UNè édB*Ç éed*Ç pMÇ áÇd
UNOÅ ÑUAè) äèdK WUFÇ WdB*Ç WONK Çc vCI0 sLC Uë MU{ tHB (WOdFÇ dB
ÊÇÑèÏ s ÑèÏ (´[°°°[°°°) 5 WFÑÃ mK Ïèb v ("WONU" vK ULO
äèdÇ WOLMè áUAJ
WdB*Ç WOM uÇ WdAÇ åuI æÃ WOJd_Ç Éb*Ç ÊUuÇ
YÇ ÊUOKL UNOCI vÇ UNUÇeÇ cOHM ("äèUI*Ç"à vK ULO UNOÅ ÑUAè) "ubÇ"
‫صورة إ‬
Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (´[°°°[°°°) 5 WFÑÃ s qI mK âUHS
ÉÏU*Ç vCI0 YÇ Éd s ÊÇuM
(³) Ë WGUÇ WOè_Ç YÇ Éd ä WOJd_Ç
‫لك‬
UNOÅ ÑUAè) ------------- rÑ æuUIÇ Vu0 ÉÑÏUBÇ åÇeÇ WOUHÇ s WFÇdÇ
‫تروني‬
Wuààààu*Ç WOdGÇ ÁÇdBU ÉÑUD ÓÃÑ ÈuM WIDM vDG vÇ ("WOUHU" vK ULO
‫ة ال يع‬
ÑUAè) WOdFÇ dB WÑuNL 5 ULOè WdF0 Wd*Ç WOUHÇ çc s "È"è "Ã" 5IK*Ç v
. ------------ v äèUI*Çè WONÇè (".Ù.å.Ì" vK ULO UNOÅ
‫تد بها‬
lÑ q iH áu
ÈUD)Ç Çc Vu0 sUCÇ WOu è WULCÇ çc æÃ åuNH*Ç sè
ÊUuÇ ÊÇÑèÏ s ÑèÏ (´[°°°[°°°) 5 WFÑÃ mK âUHÅ Édàààà ä WM
‫عند ا‬
ä çc YÇ ÊUOKL vK äèUI*Ç UNd vÇ mU*Ç ÑÇbI0 ÉÑuc*Ç WOJd_Ç Éb*Ç
VU s ãdA vU ÑÇdÅ vCI0 r ÊUCOHÇ çc s iOH qè .WM
lÑ q
‫ل‬
‫تداول‬
.äèUI*Çè WONÇ
±·³ ²°²² WM
dÇ Ébd'Ç
ANNEX "C-1"
Letter of Guaranty
Letter of Guaranty No. --- (Cairo ------------ 200--)
EGYPTIAN GENERAL PETROLEUM CORPORATION.
Gentlemen,
The undersigned, National Bank of Egypt ( or any bank operating in
A.R.E. under the supervision of the Central Bank of Egypt and that has
credit rating not less than that of A.R.E.) as Guarantor, hereby guarantees
to the EGYPTIAN GENERAL PETROLUEM CORPORATION
(hereinafter referred to as "EGPC") to the limit of four million U.S. Dollars
($4,000,000), the performance by "EGYPTIAN NATIONAL
COMPANY" "ENPEDCO" (hereinafter referred to as "CONTRACTOR")
‫صورة إ‬
of its obligations required for Exploration operations to spend a minimum
of four million U.S. Dollars ($4,000,000) during the initial three (3) year
of the Exploration period under Article IV of the Concession Agreement
‫لك‬
issued by Law No. ------------- of ---------------- (hereinafter referred to
‫تروني‬
as the "Agreement") covering South Ras Qattara Area, Western Desert,
described in Annexes "A" and "B" of said Agreement, by and between the
‫ة ال يع‬
Arab Republic of Egypt (hereinafter referred to as "A.R.E."), EGPC and
CONTRACTOR, dated -------.
‫تد بها‬
It is understood that this Guaranty and the liability of the Guarantor

hereunder shall be reduced quarterly, during the period of expenditure
of said four million U.S. Dollars ($4,000,000) by the amount of money
‫عند ا‬
expended by CONTRACTOR for such Exploration operations during each

such quarter. Each such reduction shall be established by the joint written
‫ل‬
‫تداول‬
statement of CONTRACTOR and EGPC.

²°²² WM
dÇ Ébd'Ç ±·´
q WOUHÇ s vK èÃ tUÇeU ÁUuU rI r äèUI*Ç æÃ WONÇ ÊÃÑ ÇÐÅ U WU vè
tS ¬WOUHÇ çc s WFÇdÇ ÉÏULK Uë I âUHU tÇeÇ s Ñuc*Ç vÏ_Ç b(U ÁUuÇ
X æÃ vÅè r U WONK mK*Ç lÏ s çUÏÃ lu*Ç sUCÇ vK WOu éÃ ãUM æuJ
.WOUHÇ vCI0 o *Ç mK*Ç X WONÇ s vU ÑÇdS WOu *Ç çc
- :˱ Ύοϳ΃ ΍Ϋϫ ϥΎϣοϟ΍ ΏΎρΧ ϰϓ ρέΗηϳ ϭ
ë
äèUI*Ç s Uë OU ÇÑUD Å ë
sUCÇ vIK ÇÐÅ Å äuFH*Ç ÇcU Çc æULCÇ ÈUD `B Ã -±
ÉÏÑÇuÇ ÕuBMK Uë I WÑU
XÃ WONÇè .Ù.å.Ì è äèUI*Ç 5 WOUHÇ æQ WONÇè
.ÉÑuc*Ç WOUHÇ çc æUd
aÑU s ÁÇbÇ WÑU
WULCÇ çc `Bè UN
:˱ Ύϳ΋ΎϘϠΗ ΍Ϋϫ ϥΎϣοϟ΍ ΏΎρΧ ϰϬΗϧϳ ϝΎΣ ϯ΃ ϰϠϋϭ - ˻
èÃ ¬tUd
Áb aÑU s dNÃ (¶) W
è ÊÇuM
(³) Ë bF (Ã)
vÇ WdA*Ç WuM
ldÇ ÊÇÑÇdÇ v ÉÑuc*Ç mU*Ç ÙuL `B UbM (È)
‫صورة إ‬
éÃ ¬pÐ s be èÃ âUHU åÇe vÏ_Ç bK Uë èU äèUI*Çè WONÇ UbF
.o
Ã 5ÑUÇ
‫لك‬
aÑU s éÃ q sUCÇ vÅ åbI æÃ V æQAÇ Çc v WUD éÃ æS vUUè - ³
‫تروني‬
mK*Ç tO Ïb WONÇ s vU ÑÇdS WuB d_Ç vK æULCÇ ÈUD ÁUNÇ
:çÇÏRè äèUI*Ç tIHM r écÇ
‫ة ال يع‬
è ¬WULCÇ çc v tOÅ ÑUA*Ç âUHU tUÇeU rI r äèUI*Ç æÃ (Ã)

.WONÇ vÅ ÊUèdB*Ç v eFÇ lb rI r äèUI*Ç æÃ (È)
‫تد بها‬
.tzUNÇ bMèÃ Uë ÑU

`B r ÇÐÅ ¬UMOÅ Çc æULCÇ ÈUD ÉÏUÅ ÁUdÇè
ˬˬ ϡ΍έΗΣϻ΍ ϕ΋Ύϓ ϝϭΑϘΑ ΍ϭϠοϔΗϭ
‫عند ا‬
ϥϋ
‫ل‬
‫تداول‬
έϳΩϣϟ΍ ΏγΎΣϣϟ΍
±·µ ²°²² WM
dÇ Ébd'Ç
In the event of a claim by EGPC of non-performance or surrender of the

Agreement on the part of CONTRACTOR prior to fulllment of said
minimum expenditure obligations under Article IV of the Agreement, there
shall be no liability on the undersigned Guarantor for payment to EGPC
unless and until such liability has been established by written statement of
EGPC setting forth the amount due under the Agreement.
It is a further condition of this Letter of Guaranty that:
(1) This Letter of Guaranty will become available only provided that the
Guarantor will have been informed in writing by CONTRACTOR
and EGPC that the Agreement between CONTRACTOR, A.R.E. and
EGPC has become effective according to its terms and said Guaranty
shall become effective on the Effective Date of said Agreement.
(2) This Letter of Guaranty shall in any event automatically expire:
(a) Three (3) years and six (6) months after the date it becomes
effective, or
(b) At such time as the total of the amounts shown on quarterly joint
‫صورة إ‬
statements of EGPC and CONTRACTOR equals or exceeds the
amount of said minimum expenditure obligation, whichever is
earlier.
‫لك‬
(3) Consequently, any claim, in respect thereof should be made to
‫تروني‬
the Guarantor prior to either of said expiration dates at the latest
accompanied by EGPC's written statement, setting forth the amount
of under-expenditure by CONTRACTOR to the effect that:
‫ة ال يع‬
(a) CONTRACTOR has failed to perform its expenditure obligations
referred to in this Guaranty, and
(b) CONTRACTOR has failed to pay the expenditure deciency to
‫تد بها‬
EGPC.
Please return to us this Letter of Guaranty in the event it does not become
‫عند ا‬
effective, or upon the expiry date.

Yours Faithfully,
Accountant: --------------------------------
‫ل‬
‫تداول‬
Manager: -----------------------------------
²°²² WM
dÇ Ébd'Ç ±·¶
"˻-Ν" ϕΣϠϣϟ΍
ϥΎϣοϟ΍
ΩόΑϭ ΔΑϳρ ΔϳΣΗ
WdF0 ²°-- WM " " rÑ æuUIÇ Vu0 ÉÑÏUBÇ çc åÇeÇ WOUHÇ vÅ ÉÑUU
--- è (WONÇ) äèdK WUFÇ WdB*Ç WONÇè (.Ù.å.Ì) WOdFÇ dB WÑuNL 5 ULOè
(----------------)----------------------------------
. ("äèUI*Ç" vK ULO " --------------" vK oKDè)
WOUHÇ vààà WàONÇ là pdààà vààààè ------------------------- bàààNF
WUOMUè äèUILK sàààUC --------------- ràààÑ æuUIÇ Vu0 ÉÑÏUBÇ åÇeàààÇ
WGUÇ WOè_Ç YÇ Édà äà äèUI*Ç oHÃ ÇÐÅ Uà WàU và tàààÃ æULCÇ Çcà Vu0 tàààM
‫صورة إ‬
uàè ÉdààààHÇ pK Ïbà;Ç vÏ_Ç bààà(Ç sà qàÃ Uë GK ÊÇuMààà
(--)------------
ÊÇÑèÏ sààààà ÑèÏ (-------------------) ------------------
‫لك‬
ÑUD S WONÇ åuI áuà
¬("eFÇ" à vK ULO âdàHÇ nuè) WOJd_Ç Éb*Ç ÊUuÇ
‫تروني‬
ë
ä è .eFÇ Çc WLOI WU sUCè äèUIL ------------------------
--------------------- åuI ÑUD Ç Çcà å
Ç s Uë u (±µ) dA Wààà L
‫ة ال يع‬
YO s WOU æuàààJ WONÇ vÅ äèdÇ s WOL qàààu% èÃ/è lb äèUI*Ç sààà WàààUOMU
.eFÇ Çc WODG WLOIÇ
‫تد بها‬
-------------- WB s Uë LB r pÐ æS ¬Ñuc*Ç äèdÇ qu% WU vè
åUJ_ Uë I UN WFUÇ WOLMÇ ÏuI q s äèdÇ ÌUÅ s -------------
‫عند ا‬
--------- rÑ æuUIÇ Vu0 ÉÑÏUBÇ tG

Çè äèdÇ s YK åÇeÇ WOUHÇ
Uë I WONÇ vÅ quÇ Xè v çÃ Ñuàc*Ç äèdÇ rOOI r áu
è -------- WM
‫ل‬
‫تداول‬
.WB(Ç çc UNM äu;Ç åÇeÇ WOUHÇ åUJ_

±·· ²°²² WM
dÇ Ébd'Ç
Annex "C-2"
THE GUARANTY
Gentlemen,
Reference is made to this Concession Agreement issued by virtue of law
No.--- of 20---- by and between the Arab Republic of Egypt (A.R.E.) ,The
Egyptian General Petroleum Corporation (EGPC), ----------------------------
("--------------------" hereinafter referred to as "CONTRACTOR").
--------------------------------------- which is the partner with EGPC in the
Concession Agreement issued by virtue of law No…… of 20………,
as Guarantor and on behalf of CONTRACTOR hereby undertakes that,
if CONTRACTOR spends during the initial ----------(--) year of the
Exploration period less than the minimum amount specied for such period
of ------------- million U.S. Dollars ($------------------) (the difference being
‫صورة إ‬
hereunder described as "Shortfall"), EGPC shall notify --------------------
as CONTRACTOR and ------------------------------ as Guarantor in writing
of the amount of the Shortfall. Within fteen (15) days of receipt of said
‫لك‬
notice, ------------------ on behalf of CONTRACTOR shall pay and/or
‫تروني‬
transfer to EGPC a quantity of Petroleum sufcient in value to cover the
Shortfall.
‫ة ال يع‬
In case said Petroleum shall be transferred, it will be deducted from
------------------------------------------- share of Petroleum production from
all its Development Leases, pursuant to the terms of the Concession
‫تد بها‬
Agreement for Petroleum Exploration and Exploitation issued by virtue

of law No. ………of 20………… mentioned above and said Petroleum
‫عند ا‬
shall be valued at the time of the transfer to EGPC in accordance with the
provisions of the Concession Agreement, from which such share has been
‫ل‬
transferred.
‫تداول‬
²°²² WM
dÇ Ébd'Ç ±·¸
tO vNM áu
écÇ aÑUÇè aÑUÇ Çc 5 ÊUè_Ç s Xè éÃ v äèUILK Òuè
---------------------------- mK0 Uë OdB Uë UL{ åbI æÃ ¬æULCÇ Çc
WLO s èÃ WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ sàà ÑèÏ (--------------)
Çc åUJÃ Uë OzUIK qD WU(Ç çcà vè ¬wJMÇ æULCÇ ÈUD) WId*Ç WGOBU eFÇ
.çdÃ åbFMè æULCÇ
WM
lÑ q iH áu
æULCÇ Çc Vu0 sUCÇ WOu è WULCÇ çc æÃ åuNH*Ç sè
.WONÇ UbLFè ÊUOKLFU WLzUIÇ WdAÇ ä s äèUI*Ç UNIHM vÇ mU*U
bF dNÃ (¶) W
ÁUCIÇ bàM d_Ç .bààè Uë O `Bè æULCÇ Çcàà WO åbFMè
bR écÇ aÑUÇ v èÃ ÊÇuM
(--) --------- WGUÇ WOèÇ YÇ Édà WUN
.WOUHÇ çc v UNOK ÕuBM*Ç tàUÇeU vèÃ bà äèUI*Ç æÃ WONÇ tO
-----------------------------------
‫صورة إ‬
-----------------------------------
----------------------------- : aÑUÇ
‫لك‬
‫تروني‬
‫ة ال يع‬
‫تد بها‬
‫تداول‬
±·¹ ²°²² WM
dÇ Ébd'Ç
CONTRACTOR may at any time between the date hereof and the date on
which this Guaranty shall expire submit a bank guaranty of -----------------
million U.S. Dollars ($-----------------) or of the value of the Shortfall in the
form of the Bank Letter of Guaranty attached, in such event the provisions
of this Guaranty shall automatically lapse and be of no effect.
It is understood that this Guaranty and the responsibility of the Guarantor
under this Guaranty shall be reduced quarterly by the amounts spent by
CONTRACTOR through the Operating Company and approved by EGPC.
This Guaranty shall expire and become null and void on the date six (6)
months after the end of the initial ---------- (--) year of the Exploration
period or on the date EGPC conrms that CONTRACTOR fullled its
obligations hereunder.
Yours Faithfully,
------------------------------------------------
‫صورة إ‬
------------------------------------------------
DATE----------------------------------------
‫لك‬
‫تروني‬
‫ة ال يع‬
‫تد بها‬
‫تداول‬
²°²² WM
dÇ Ébd'Ç ±¸°
"Ω" ϕΣϠϣϟ΍
αϳγ΄Η ΩϘϋ
ΕΎϳϠϣόϟΎΑ Δϣ΋ΎϘϟ΍ Δϛέηϟ΍
ϰϟϭϷ΍ ΓΩΎϣϟ΍
s `dB WOdFÇ dB WÑuNL WO M qL% WLU Wd "ÊUOKLFU WLzUIÇ WdAÇ"
.Çc fO
QÇ bIè bF ULO UNOÅ ÑUA*Ç WOUHÇ çc åUJ_ Uë I WuJ(Ç
tO ÖÑUF écÇ b(Ç vÅ .Ù.å.Ì v WÑU Ç `zÇuKÇè 5ÇuIÇ WUJ WdAÇ lCè
.wK ULO UNOÅ ÑUA*Ç WOUHÇ çcè bIFÇ Çc åUJÃ l `zÇuKÇè 5ÇuIÇ çc
ΔϳϧΎΛϟ΍ ΓΩΎϣϟ΍
²°²°/¹/±· aÑU X
Q bè "uJOU" Wd vMF "ÊUOKLFU WLzUIÇ WdAÇ"
ÉdH UNKÃ bL*Çè ¬qbF s tOK q ÏÇ U0 ²°±¹ WM ±³¶ rÑ æuUIÇ åUJÃ Vu0
‫صورة إ‬
.WOUHÇ çc áÇd Qè WOUHÇ çc q_ WèU WOMÒ
ΔΛϟΎΛϟ΍ ΓΩΎϣϟ΍
‫لك‬
‫تروني‬
.ÉdUIÇ WMb0 .Ù.å.Ì v ÊUOKLFU WLzUIÇ WdAK v OzdÇ ed*Ç æuJ
ΔόΑ΍έϟ΍ ΓΩΎϣϟ΍
‫ة ال يع‬
WàààONÇ lODààà écàààÇ qàààOuÇ Ñèbààà åUàààOIÇ uààà ÊUàààOKLFU WàààLzUIÇ WdàààAÇ Ödààà
WFu*Ç WOUHÇ çc ÕuB UNOCI vÇ WOLMÇ ÊUOKL ÉÑÇÏÅè cOHM t s äèUI*Çè
‫تد بها‬
WUFÇ WdB*Ç WONÇè WOdFÇ dB WÑuNL 5 ULOè WdF0 dN s åuOÇ v

ÁÇdBU ÉÑUD ÓÃÑ ÈuàààM WIDM v WOèdÇ ÊUOKLFÇ qLàààA vÇè äèUI*Çè äèdàààK
‫عند ا‬
.WOUHÇ çc v WMO*Ç WOdGÇ

aÑU s UN åUOIÇè YÇ ÊUOKL cOHM v qOuÇ ÊUOKLFU WLzUIÇ WdAÇ æuJè
‫ل‬
‫تداول‬
.WOUH Uë Iè ÉbLF*Ç ÊUÒÇu*Çè qLFÇ ZÇd Uë I UNMuJ

±¸± ²°²² WM
dÇ Ébd'Ç
ANNEX "D"
CHARTER OF OPERATING COMPANY
ARTICLE I
"Operating Company" a joint stock company having the nationality of the
ARAB REPUBLIC OF EGYPT shall be formed with the authorization of
the GOVERNMENT in accordance with the provisions of this Agreement
referred to below and of this Charter.
The Company shall be subject to all laws and regulations in force in the
A.R.E. to the extent that such laws and regulations are not inconsistent
with the provisions of this Charter and the Agreement referred to below.
ARTICLE II
"Operating Company" means "NAPETCO COMPANY" established on
17/9/2020 by the provisions of Law No. 136 of 2019 as amended, that its
term shall be extended for a period equal to the term of this Agreement and
‫صورة إ‬
by the concerned parties to this Agreement.
ARTICLE III
‫لك‬
The Head Ofce of Operating Company shall be in the A.R.E. in Cairo.
‫تروني‬
ARTICLE IV
The object of Operating Company is to act as the agency through which
‫ة ال يع‬
EGPC and CONTRACTOR, carry out and conduct the Development
operations required in accordance with the provisions of the Agreement
signed on the ------ day of --------------- by and between the ARAB
‫تد بها‬
REPUBLIC OF EGYPT, THE EGYPTIAN GENERAL PETROLEUM

CORPORATION and CONTRACTOR covering Petroleum operations in
‫عند ا‬
South Ras Qattara Area, Western Desert, described therein.

Operating Company shall be the agency to carry out and conduct
‫ل‬
Exploration operations on the date it comes into existence pursuant to

‫تداول‬
Work Programs and Budgets approved in accordance with the Agreement.

²°²² WM
dÇ Ébd'Ç ±¸²
çcN ÊUIHMÇè ÊUèdB*Çè nOUJÇ WUJ Uë U ÊUOKLFU WLzUIÇ WdAÇ p 9è

.UN od*Ç "à" oK*Çè WOUHÇ åUJ_ Uë Iè ÊUOKLFÇ
åUOIÇ ÒèU ×UA éQ åuI èÃ qL éÃ äèÇe æÃ ÊUOKLFU WLzUIÇ WdAK fOè
.pÐ á vK äèUI*Çè WONÇ XIÇè ÇÐÅ Å Uë HÂ ÉÑuc*Ç ÊUOKLFU
ΔγϣΎΧϟ΍ ΓΩΎϣϟ΍
W L vÅ r I édB tOM nÃ æèdA u t h d*Ç ÊUOKLFU WLzUIÇ WdAÇ äUL
ÃÑ
Wub WdB ÊUNOM lÑÃ UNM q WLOè XuBÇ âuI v WèU éÏU rN
áÂ
.WLOIÇ WUè qUJU
nB ÊUOKLFU WLzUIÇ WdAÇ Ïuè ä pK9è Òu%è äèUI*Çè WONÇ s q lb
vÇ ÉbOuÇ WU(Ç æÃ ÑdI*Ç s tÃ vK ¬ÊUOKLFU WLzUIÇ WdAÇ äUL
ÃÑ rN
Ã (²/±)
dOGÇ vÅ UNKI èÃ tOJK WB s W éÃ èÃ q s äÒUMÇ 5dDÇ s é_ UNO Òu
èÃ tOJK èÃ tuI s éÃ èÃ q s äÒUM èÃ qIM æÃ 5dDÇ s éÃ ÏÇÑÃ ÇÐÅ U WU v
‫صورة إ‬
äÒUM*Ç èÃ qUMÇ ádDÇ Çc vK 5F WU(Ç pK vè UNKLQ WOUHÇ s WUMÇ tB
WdAÇ äUL
ÃÑ rN
Ã v tB s Ñb s äÒUMè qIM æÃ ( rNOÅ äÒUM sè tzUHK è)
‫لك‬
s tOJK WB s UNM äÒUM*Ç èÃ WuIM*Ç Wu*Ç W MK èÃ qJ èí U ÊUOKLFU WLzUIÇ
‫تروني‬
.UNKLQ WOUHÇ
ΔγΩΎγϟ΍ ΓΩΎϣϟ΍
‫ة ال يع‬
âuI è ÙB éÃ è WOJK UN QAM è o éÃ ÊUOKLFU WLzUIÇ WdAÇ pK9

äèd éÃ v è WOUHÇ çc s QAM WOLM bI éÃ v è WOUHÇ Vu0 èÃ v WÑUI
‫تد بها‬
v è WOUHÇ vCI0 WuML*Ç WU *Ç s WOLM bI èÃ Y ÙUD éÃ s Ìd

cOHM ÖÇd_ WKLF v U2 èÃ UNOK äuB(Ç - éd Ã ÊUJK2 èÃ ÊÇbF èÃ äuÃ WÃ
‫عند ا‬
æuJ åÇeÇ èÃ VÇè éÃ ÁÇÏÃ èÃ quL åÇeÇ éÃ Ãb*Ç YO s UNOK lI è ÊUOKLFÇ
ÊUOKLFU WLzUIÇ WdAK Òu è ¬WOUHÇ vCI0 äèUI*Ç èÃ WONÇ s éÃ vK Uë {èdH
‫ل‬
‫تداول‬
.æU Ñí bB éÃ s `Ñ éÃ oI% æÃ

±¸³ ²°²² WM
dÇ Ébd'Ç
Operating Company shall keep account of all costs, expenses and

expenditures for such operations under the terms of the Agreement and
Annex "E" thereto.
Operating Company shall not engage in any business or undertake any
activity beyond the performance of said operations unless otherwise agreed
upon by EGPC and CONTRACTOR.
ARTICLE V
The authorized capital of Operating Company is twenty thousand Egyptian
Pounds divided into ve thousand shares of common stock with a value of
four Egyptian Pounds per share having equal voting rights, fully paid and
non-assessable.
EGPC and CONTRACTOR shall each pay for, hold and own, throughout
the life of Operating Company, one half (1/2) of the capital stock of
Operating Company provided that only in the event that either party should
transfer or assign the whole or any percentage of its ownership interest in
‫صورة إ‬
the entirety of the Agreement, may such transferring or assigning party
transfer or assign any of the capital stock of Operating Company and, in
that event, such transferring or assigning party (and its successors and
‫لك‬
assignees) must transfer and assign a stock interest in Operating
‫تروني‬
Company equal to the transferred or assigned whole or percentage of its
ownership interest in the entirety of the said Agreement.
‫ة ال يع‬
ARTICLE VI
Operating Company shall not own any right, title, interest or estate in
or under the Agreement or any Development Lease created thereunder
‫تد بها‬
or in any of the Petroleum produced from any Exploration Block or

Development Lease thereunder or in any of the assets, equipment or
other property obtained or used in connection therewith, and shall not
‫عند ا‬
be obligated as a principal for the nancing or performance of any of

the duties or obligations of either EGPC or CONTRACTOR under the
‫ل‬
Agreement. Operating Company shall not make any prot from any source
‫تداول‬
whatsoever.
²°²² WM
dÇ Ébd'Ç ±¸´
ΔόΑΎγϟ΍ ΓΩΎϣϟ΍
çc v dÐ ULOè ¬äèUI*Çè WONÇ s qOè éu
X O ÊUOKLFU WLzUIÇ WdAÇ
ë ÑbB ÊUOKLFU WLzUIÇ WdAÇ æÃ WOUHÇ
tU Uè Uë ÇdÅ éb èÃ ÁÇdÅ c èÃ ÇÑÇd
VU s èÃ äèUI*Ç èÃ WONÇ VU s Ñb b rJ(Ç èÃ ÑÇdIÇ pÐ æÃ åuNH*Ç sL pÐ
.WOUHÇ ÊUOCI V äèUI*Çè WONÇ
ΔϧϣΎΛϟ΍ ΓΩΎϣϟ΍
WONÇ 5F ÁUCÃ (¸) WOUL s æuJ ÉÑÇÏÅ fK ÊUOKLFU WLzUIÇ WdAK æuJ
WONÇ tMOF ÉÑÇÏÇ fK fOzÑè ¬sd Ç (´) WFÑ_Ç äèUI*Ç 5Fè rNM (´) WFÑÃ
fK uC t H uè äèUI*Ç tMOF åUFÇ db*Çè ¬ÈbM ÉÑÇÏÅ fK uC t H uè
.ÈbM ÉÑÇÏÅ
ΔόγΎΗϟ΍ ΓΩΎϣϟ΍
‫صورة إ‬
c ÑÇd éÃè fK*Ç ÁUCÃ WOKÃ UdC ÇÐÅ WO ÉÑÇÏÇ fK ÊUULÇ æuJ
s dÃ èÃ ÊÇuÃ (µ) W L tOK oÇè ÇÐÅ Å Uë O æuJ ÊUULÇ çc v
ë
vK ÁUM tM WUOMU ÊuBè d Â ÇuC q1 æÃ uC é_ Òu tÃ vK ÁUC_Ç ÊÇuÃ
‫لك‬.tM ÑÏU qOu
‫تروني‬
ΓέηΎόϟ΍ ΓΩΎϣϟ΍
‫ة ال يع‬
rN
Ã WOKÃ tO XK9 ÇÐÅ ÏUIFÇ Ò rN
_Ç WKL( WOuLFÇ WOFL'Ç ÙULÇ æuJ
ÉezU æuJ æÃ V ÙULÇ Çc v c ÊÇÑÇd éÃè .ÊUOKLFU WLzUIÇ WdAÇ äUL
ÃÑ
‫تد بها‬
.äU*Ç ÓÃÑ rN
Ã WOKÃ æuK1 èÃ æuJK1 scÇ rN
_Ç WKL s WIÇu*Ç ÊÇu_
έηϋ ΔϳΩΎΣϟ΍ ΓΩΎϣϟ΍
‫عند ا‬
WdAÇ vHu åÇb

U WU)Ç åUJ_Çè ×èdAÇ qLA vÇ `zÇuKÇ ÉÑÇÏÇ fK bLF
äèUI*Ç rNMOF rè ÉdU ÊUOKLFU WLzUIÇ WdAÇ rNb scÇ ÊUOKLFU WLzUIÇ
‫ل‬
‫تداول‬
.WdAÇ v WONÇè
±¸µ ²°²² WM
dÇ Ébd'Ç
ARTICLE VII
Operating Company shall be no more than an agent for EGPC and
CONTRACTOR. Whenever it is indicated herein that Operating Company
shall decide, take action or make a proposal and the like, it is understood
that such decision or judgment is the result of the decision or judgment
of EGPC/CONTRACTOR or EGPC and CONTRACTOR, as may be
required by the Agreement.
ARTICLE VIII
Operating Company shall have a Board of Directors consisting of eight
(8) members, four (4) of whom shall be designated by EGPC and the other
four (4) by CONTRACTOR. The Chairman shall be designated by EGPC
and shall also be a Managing Director. CONTRACTOR shall designate
the General Manager who shall also be a Managing Director.
ARTICLE IX
‫صورة إ‬
Meetings of the Board of Directors shall be valid if a majority of the
Directors are present and any decision taken at such meetings must have
the afrmative vote of ve (5) or more of the Directors; provided, however,
‫لك‬
that any Director may be represented and vote by proxy held by another
‫تروني‬
Director.
ARTICLE X
‫ة ال يع‬
General meetings of the Shareholders shall be valid if a majority of the
capital stock of Operating Company is represented thereat. Any decision
taken at such meetings must have the afrmative vote of Shareholders
‫تد بها‬
owning or representing a majority of the capital stock.

ARTICLE XI
‫عند ا‬
The Board of Directors shall approve the regulations covering the terms
and conditions of employment of the personnel of Operating Company
employed directly by Operating Company and not assigned thereto by
‫ل‬
‫تداول‬
CONTRACTOR and EGPC.

²°²² WM
dÇ Ébd'Ç ±¸¶
¬ÊUOKLFU WLzUIÇ WdAK vK ÇbÇ åUEMÇ ÏÇbS ¬V

UM*Ç XuÇ v ÉÑÇÏÇ fK åuIè
åUJ_ Uë Iè rN
_Ç WKL( WOuLFÇ WOFL'Ç ÙULÇ v tOK WIÇu*Ç bF åUEMÇ Çc éd è
.oK*Ç Çc s ÉdUFÇ ÉÏU*Ç
έηϋ ΔϳϧΎΛϟ΍ ΓΩΎϣϟ΍
éÃ pÐ v U0 WOUHÇ çc q_ WèU Éb0 Ïb ÊUOKLFU WLzUIÇ WdAÇ qÃ
.UN bb&
s V
é_ tOUF ÉÑuc*Ç WOUHÇ çc qÃ vNÃï ÇÐÅ ÊUOKLFU WLzUIÇ WdAÇ q%
.UNO UNOK ÕuBM*Ç ÈU
_Ç
ϝϭέΗΑϟ΍ ΔϳϣϧΗϭ ϑΎηϛΗγϻ Δϳέλϣϟ΍ Δϳϧρϭϟ΍ Δϛέηϟ΍

ΎϬϧϋ
‫صورة إ‬
ργΎΑϟ΍ ΩΑϋ ΢ϳΎγϟ΍ ργΎΑϟ΍ ΩΑϋ:αΩϧϬϣ ˯΍ϭϟ Ω˰˰ϳγϟ΍
ΏΩΗϧϣϟ΍ϭοόϟ΍ϭ Γέ΍ΩϹ΍ αϠΟϣ αϳ΋έ :ϪΗϔλΑ
‫لك‬
................................................... :ϊϳϗϭΗϟ΍
‫تروني‬
‫ة ال يع‬
ΎϬϧϋ
ϝρΑϟ΍ ˯ϼϋ:ϲΟϭϟϭϳΟϟ΍ Ω˰˰ϳγϟ΍
‫تد بها‬
ϱΫϳϔϧΗϟ΍ αϳ΋έϟ΍ :ϪΗϔλΑ

................................................... :ϊϳϗϭΗϟ΍
‫عند ا‬
................................................... :ΦϳέΎΗϟ΍
‫ل‬
‫تداول‬
±¸· ²°²² WM
dÇ Ébd'Ç
The Board shall, in due course, draw up the By-Laws of Operating

Company, and such By-Laws shall be effective upon being approved by
a General Meeting of the Shareholders, in accordance with the provisions
of Article X hereof.
ARTICLE XII
The duration of Operating Company shall be for a period equal to the
duration of the said Agreement, including any renewal thereof.
The Operating Company shall be wound up if the Agreement referred to
above is terminated for any reason as provided for therein.
EGYPTIAN NATIONAL PETROLEUM FOR EXPLORATION AND

DEVELOPMENT COMPANY
‫صورة إ‬
By
Engineer Major General : Abdelbasat Elsayah Abdelbasat
In his capacity: Chairman of the Board and Managing Director
‫لك‬
‫تروني‬
Signature: ---------------------------------------
‫ة ال يع‬
By
Geologist: Alaa El Batal
‫تد بها‬
In his capacity: Chief Executive Ofcer

Signature: ---------------------------------------
‫عند ا‬
Date: -----------------------------------------------
‫ل‬
‫تداول‬
²°²² WM
dÇ Ébd'Ç ±¸¸
"˰ϫ" ϕΣϠϣϟ΍
ϰΑγΎΣϣϟ΍ ϡΎυϧϟ΍
ϰϟϭϷ΍ ΓΩΎϣϟ΍
ΔϣΎϋ ϡΎϛΣ΃
:ΕΎϔϳέόΗ (΃)
æuJè v
U;Ç åUEMÇ Çc vK WOUHÇ s vè_Ç ÉÏU*Ç v ÉÏÑÇuÇ ÊUHdFÇ oD
.wMF*Ç ÊÇÐ UN
:ρΎηϧϟ΍ ΕΎϧΎϳΑ (Ώ)
WLzUIÇ WdAÇ ÁUAÅ vè WOUHÇ çc s WFÇdÇ ÉÏULK Uë Iè ¬äèUI*Ç åbI (±)
s Uë u (³°) 5 ä WONK WOUHÇ s W
ÏU Ç ÉÏULK Uë Iè ÊUOKLFU
WMzÇbÇè WMb*Ç ÏuOIÇ WU fJF YÇ ×UAM Uë UO WO1uI WM
lÑ q WUN
‫صورة إ‬
V WBK tOÅ ÑUA*Ç WM Ç lààÑ s XdÃ vÇ YÇ ÊUOKLF WIKF*Ç
.UNM q WFO vààààK äb écààààÇ rz*Ç VuÇ
‫لك‬
dA W L ä äèUI*Çè WONK ¬UNQA VI ¬ÊUOKLFU WLzUIÇ WdAÇ åbI (²)
‫تروني‬
tO fJF YÇè WOLMÇ ×UAM Uë UO WO1uI WM
lÑ q WUN s Uë u (±µ)
‫ة ال يع‬
ÉÑuc*Ç WM
ldK YÇè WOLMÇ ÊUOKLF WU)Ç WMzÇbÇè WMb*Ç ÏuOIÇ WU
vÇ ÏÇu*Ç ÏuM æÃ dO ¬ULNM q WFO vK äb rz Vu V WBK
.ë OBH Ïd æÃ V WÏUFÇ dO WMzÇbÇè WMb*Ç ÏuOIÇè UdB sJ1
‫تد بها‬
WOLMÇ WDA_ WLzU q ÏULÇè WFÇd0 WONÇ åuI áu

WFU Ç ÉÏULK Uë I
‫عند ا‬
éÃè .(WU(Ç V ) ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç s WbI YÇè

ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç WD
Çu UÑUÇî fJFM áu
WONK ÊUE
‫ل‬
‫تداول‬
.WOUÇ WO1uIÇ WM Ç lÑ WLzU v (WU(Ç V )

±¸¹ ²°²² WM
dÇ Ébd'Ç
ANNEX "E"
ACCOUNTING PROCEDURE
ARTICLE I
GENERAL PROVISIONS
(a) Denitions:
The denitions contained in Article I of the Agreement shall apply to
this Accounting Procedure and have the same meanings.
(b) Statements of activity:
(1) CONTRACTOR shall, pursuant to Article IV of this Agreement,
and until the coming into existence of the Operating Company -
in accordance with Article VI of the Agreement - render to EGPC
within thirty (30) days of the end of each calendar quarter a
Statement of Exploration Activity reecting all charges and credits
related to the Exploration Operations for that quarter summarized
‫صورة إ‬
by appropriate classications indicative of the nature thereof.
(2) Following its coming into existence, Operating Company shall
render to EGPC and CONTRACTOR within fteen (15) days
‫لك‬
of the end of each calendar quarter a Statement of Development
‫تروني‬
and Exploration Activity reecting all charges and credits related
to the Development and Exploration operations for that quarter
‫ة ال يع‬
summarized by appropriate classications indicative of the nature
thereof, except that items of controllable material and unusual
charges and credits shall be detailed.
‫تد بها‬
Pursuant to Article VII, EGPC shall audit and approve each

statement of Development and Exploration Activity submitted
‫عند ا‬
by the CONTRACTOR or the Operating Company (as the case

may be). Any comments made by EGPC shall be reected by the
CONTRACTOR or the Operating Company (as the case may be)
‫ل‬
‫تداول‬
on the Statement produced for the next calendar quarter.

²°²² WM
dÇ Ébd'Ç ±¹°
:ΕΎόΟ΍έϣϟ΍ϭ ΕϼϳΩόΗϟ΍ (Ν)

s (±) (È) ÉdIHK Uë Iè YÇ ×UA áuA s éuM
lÑ nA q dF (±)
dNÃ (³) W bF WOzUN WHB Uë Oè Uë LOK
oK*Ç Çc v vè_Ç ÉÏU*Ç
ÉÑuc*Ç dNÃ (³) WÇ ä WONÇ tOK X{dÇ ÇÐÅ Å t WONÇ å
Ç s
Éd ä vè .WOUHÇ s (è) ÉdI WFÇdÇ ÉÏU*Ç åUJ_ Uë Iè Uë OU Uë {ÇdÇ
éÃ v UNBH WONK WU ÉbR*Ç ÊÇbM *Ç æuJ ÉÑuc*Ç dNÃ (³) WÇ
.qLFÇ ÊUU
s Xè
WFÇd æQA WONK vÇ âuI(Ç fH äèUILK æuJ ¬WOdHÇ ÉdIHÇ çc Vu0è
.ÊUOKLFU WLzUIÇ WdAÇ ÊUUO
ÉdIHK Uë Iè WO1uI WM
lÑ éÃ s YÇè WOLMÇ ×UAM WU)Ç ÊUUOÇ WU (²)
WOzUN WHB WOè WÏU dF oK*Ç Çc v vè_Ç ÉÏU*Ç s (²) (È)
äèUI*Ç èÃ WONÇ X{dÇ ÇÐÅ Å ÊUUOÇ pK å
WOU dNÃ (³) W bF
‫صورة إ‬
(³) WÇ Éd ÁUCIÇ 5(è .ÉÑuc*Ç dNÃ (³) WÇ ä WU ë UNOK
ÊUU WFÇd v o(Ç ULNOKJ èÃ äèUI*Ç èÃ WONÇ s é_ æuJ ÉÑuc*Ç dNÃ
‫لك‬
Ñuc*Ç WM Ç lÑ s UN ÉbR*Ç ÊÇbM *Çè UN
è ÊUOKLFU WLzUIÇ WdAÇ
‫تروني‬
.WOUHÇ s (è) ÉdI WFÇdÇ ÉÏU*Ç v UNOK ÕuBM*Ç WIdDÇ fHM
:ΔϠϣόϟ΍ ϝϳϭΣΗ (Ω)
‫ة ال يع‬
WOLMU WU)Ç ÊUOKLFU WLzUIÇ WdAÇ dUÏè YU WU)Ç äèUI*Ç dUÏ pààà 9
ÊUIHMÇ qè ¬WàààOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèbààà Êbè æÅ .Ù.å.Ì vààà YàààÇè
‫تد بها‬
.WdBM*Ç mU*Ç ÊÇc UàààNKOL% V ¬WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèbààà WdBM*Ç
WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ vÅ édB*Ç tOM'U X9 vÇ ÊUIHMÇ WU äuààà%è
‫عند ا‬
écÇ åuOÇ v édB*Ç éed*Ç pMÇ s ÑÏUBÇ oODÇ VÇuÇ quÇ dFààà Uë I
WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ dàààOG éd _Ç ÊUIHMÇ WUè .ÊUIHMÇ tO ÊbàààO
‫ل‬
‫تداول‬
WKLFÇ çc ÁÇdàààA ádBÇ dFààà Uë I WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ vÅ äuààà%
±¹± ²°²² WM
dÇ Ébd'Ç
(c) Adjustments and Audits:

(1) Each quarterly Statement of Exploration Activity pursuant to
Article I (b) (1) of this Annex shall conclusively be presumed to
be true and correct after three (3) months following the receipt of
each Statement by EGPC unless within the said three (3) months
EGPC takes written exception thereto pursuant to Article IV (f) of
the Agreement. During the said three (3) month period supporting
documents will be available for inspection by EGPC during all
working hours.
CONTRACTOR will have the same audit rights on Operating
Company Statements as EGPC under this sub-paragraph.
(2) All Statements of Development and Exploration Activity for any
calendar quarter pursuant to Article I (b) (2) of this Annex, shall
conclusively be presumed to be true and correct three (3) months
‫صورة إ‬
following the receipt of such Statement, unless within the said
three (3) month period EGPC or CONTRACTOR takes written
exception thereto. Pending expiration of said three (3) months
‫لك‬
EGPC or CONTRACTOR or both of them shall have the right
‫تروني‬
to audit Operating Company accounts, records and supporting
documents for such quarter in the same manner as provided in
‫ة ال يع‬
Article IV (f) of the Agreement.
(d) Currency Exchange:
CONTRACTOR's books for Exploration and Operating Company's
‫تد بها‬
books for Development and Exploration, if any, shall be kept in the

A.R.E. in U.S. Dollars. All U.S. Dollars expenditures shall be charged
‫عند ا‬
in the amount expended. All Egyptian Pounds expenditures shall be

converted to U.S. Dollars at the applicable rate of exchange issued
‫ل‬
by the Central Bank of Egypt on the day in which expenditures

‫تداول‬
are recorded, and all other non-U.S. Dollars expenditures shall be

²°²² WM
dÇ Ébd'Ç ±¹²
Uë U ±°[³° WUààà Ç v æbM ¬bàààLO dààà MOL

è äUuOàààU pM çÑbB écàààÇ
qààà kHè .ÊUIHMÇ tO ÊbO écÇ dNàààAÇ s åu äèÃ v gàààMd XàààOu
dOG éd _Ç ÊUIHMÇ èÃ WdB*Ç ÊUNOM'U ÊUIHMÇ qu% v WKLF *Ç ádBÇ ÑUF
_
.WOJdÃ ÊÇÑèÏ vÅ WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ
:ΔϳϘΑγϷ΍ ΙϳΣ ϥϣ ϕ΋ΎΛϭϟ΍ ΏϳΗέΗ ( ˰ϫ)
ÕuB 5è v
U;Ç åUEMÇ Çc ÕuB 5 á Ç èÃ ÖÑUF éÃ Ïuè WU v
vÇ v WOUHÇ ÕuB æS ¬tÇc Ùu{u WKUF v á Ç vÅ éÏR WOUHÇ
.UN qLFè VKG
:ϰΑγΎΣϣϟ΍ ϡΎυϧϟ΍ ϝϳΩόΗ (ϭ)
ë
Xè s WU v
U;Ç åUEMÇ Çc qbF ¬äèUI*Çè WONÇ 5 äÏU*Ç âUHU Òu
.WKI *Ç ÊUOdÇ Áu{ vK d
:έΎϣΛΗγϻ΍ ϰϠϋ ΓΩ΋ΎϔΑ ΕΎΑΎγΣϟ΍ ϝϳϣΣΗ ϡΩϋ (ί)
‫صورة إ‬
ÁUÃ èÃ åu
Ñ WQ èÃ ÑUL
Ç vK ÉbzUH ÊUU (Ç qOL% Xè éÃ v Òu
v ÏÇÏd
WKU nOUJ ãuM s ÉÑÏU ÊUUL{ WQ WIKF ÊuL èÃ WOJM
‫لك‬
.WOUHÇ q
‫تروني‬
ΔϳϧΎΛϟ΍ ΓΩΎϣϟ΍
ΕΎϘϔϧϟ΍ϭ ΕΎϓϭέλϣϟ΍ϭ ϑϳϟΎϛΗϟ΍
‫ة ال يع‬
WdAÇ od s èÃ ÉdU ÁÇu

¬lbè çbè äèUI*Ç qL ¬WOUHÇ ÕuB ÉUÇd l
ÙÒuè Èu ÊUèdB*Çè nOUJÇ çcè ¬WOÇ ÊUèdB*Çè nOUJÇ ¬ÊUOKLFU WLzUIÇ
‫تد بها‬
Uë Iè Ïd è qUFè WU WHB UN äuLF*Çè WLOK Ç WO

U;Ç äu Uë I WDA_Ç vK
:WOUHÇ çc s WFU Ç ÉÏU*Ç åUJ_
‫عند ا‬
:΢ργϟ΍ ϕϭϘΣ (΃)

- vÇ `D Ç âuI s q èÃ bb& èÃ pK9 s W&UMÇ ÉdU*Ç nOUJÇ lOL
‫ل‬
‫تداول‬
.WIDM*Ç ÙB WÑU

XKè UNOK äuB(Ç
±¹³ ²°²² WM
dÇ Ébd'Ç
translated to U.S. Dollars at the buying rate of exchange for such

currency as quoted by National Westminster Bank Limited, London at
10.30 a.m. G.M.T., on the rst day of the month in which expenditures
are recorded. A record shall be kept of the exchange rates used in
translating Egyptian Pounds or other non-U.S. Dollars expenditures
to U.S. Dollars.
(e) Precedence of Documents:
In the event of any inconsistency or conict between the provisions
of this Accounting Procedure and the provisions of the Agreement
treating the same subject differently, then the provisions of the
Agreement shall prevail.
(f) Revision of Accounting Procedure:
By mutual agreement between EGPC and CONTRACTOR, this
Accounting Procedure may be revised in writing from time to time in
the light of future arrangements.
‫صورة إ‬
(g) No Charge for Interest on Investment:
Interest on investment or any bank fees, charges or commissions
related to any bank guarantees shall not at any time be charged as
recoverable costs under the Agreement.
‫لك‬
‫تروني‬
ARTICLE II
COSTS, EXPENSES AND EXPENDITURES
‫ة ال يع‬
Subject to the provisions of the Agreement, CONTRACTOR shall alone

bear and, directly or through Operating Company, pay the following costs
‫تد بها‬
and expenses, which costs and expenses shall be classied and allocated
to the activities according to sound and generally accepted accounting
principles and treated and recovered in accordance with Article VII of this
‫عند ا‬
Agreement:
(a) Surface Rights:
‫ل‬
‫تداول‬
All direct cost attributable to the acquisition, renewal or relinquishment

of surface rights acquired and maintained in force for the Area.
²°²² WM
dÇ Ébd'Ç ±¹´
:ΎϬΑ ΔϘϠόΗϣϟ΍ ϑϳϟΎϛΗϟ΍ϭ ΔϟΎϣόϟ΍ (Ώ)

¬ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç vb * WONÇ s ÉbLF*Ç Ñu_Çè ÊUd*Ç (±)
v U0 WOUHÇ Vu0 WHK*Ç WDA_Ç v ÉdU æuKLF scÇ ¬äÇu_Ç V
Uë R æuIK scÇ sd Ç 5Hu*Çè 5OuuOK Wub*Ç Ñu_Çè ÊUd*Ç pÐ
.UNO æuKLFè WDA_Ç çcN
ÑUÇ v c _Ç l Ñu_Çè ÊUd*Ç pK vK W
UM*Ç ÊbFÇ éd&è
çc ÖdGè .Ñu_Ç vK WID*Ç 5ÇuIÇ ÊbFè äèUI*Ç WLEÃ v ÊÇdOGÇ
æS ¬oK*Ç Çc s WOUÇ ÉÏU*Ç s (Ì) ÉdIHÇè WOUÇ ÉÏU*Ç s (È) ÉdIHÇ
pÐ v U0 .Ù.å.Ì v q bÇ WdàC WF{U)Ç mU*Ç vMF Ñu_Çè ÊUd*Ç
WU)Ç mU*Ç q ÁUM
U sJè ¬WO{d*Ç ÊÇÒUÇè ÊÇÒUÇ ÁUMÃ ÊUd*Ç
.çUÏÃ (²) X% WÑb*Ç W MÇ UNODG vÇ éd _Ç ÏuMU
: έλϣ ϰϓ Δϣ΋΍Ω ΔϔλΑ ΎϬΑ ϥϳϘΣϠϣϟ΍ ΏϧΎΟϷ΍ ϥϳϔυϭϣϠϟ ΔΑγϧϟΎΑ (˻)
‫صورة إ‬
¬Ñu_Çè ÊUd*U WDd*Ç ÊbÇ lOL (±
¬ÉÑdI*Ç rEMÇ nOUJè (²
‫لك‬
vÅè s rNzUè VU_Ç 5Hu*Ç ÁR qI nOUJè dH Ç ÊUèdB lOLè (³
‫تروني‬
s qIMK WO èÃ ÈÇdÇ bMè 5OFÇ Áb bM vK_Ç rNK èÃ rÏ
s 5uIM*Ç rNzUè 5b *Ç qI nOUJ) ÊDFÇ ÁUMÃè d Â vÅ æUJ
‫ة ال يع‬
.(.Ù.å.Ì v ÊUOKLFÇ vK qL% vK_Ç rbK á d Â æUJ vÅ .Ù.å.Ì

äÏUF UNÃ WOUÇ ÉÏU*Ç çc s (²) (È) ÉdàIHÇ và ÉÏÑÇuÇ nOUJÇ dFè
‫تد بها‬
Ñu_Çè ÊUd*Ç s qÃ ULNÃ WID*Ç W MÇ èÃ (¥·°) WzU*Ç v æuF
ÁUMÃ Wub*Ç pK pÐ v U0 ¬VU_Ç 5Hu*Ç ÁRN Wub*Ç WO

U
_Ç
‫عند ا‬
WOèbÇ rEMÇ vààà ÑdI uààà U* Uë Iè WO{d*Ç ÊÇÒUÇè WÏUFÇ ÊÇÒUÇ
WOUÇ ÉÏU*Ç çc s (×) ÉdIHÇè (±) (È) ÉdIHK Uë I qL%è äèUILK ÉÑdI*Ç
‫ل‬
‫تداول‬
.oK*Ç Çc v
±¹µ ²°²² WM
dÇ Ébd'Ç
(b) Labor and Related Costs:

(1) Salaries and Wages, which was approved by EGPC, of
CONTRACTOR's or Operating Company's employees, as the
case may be, directly engaged in the various activities under the
Agreement including salaries and wages paid to geologists and
other employees who are temporarily assigned to and employed
in such activities.
Reasonable revisions of such salaries and wages shall be effected
to take into account changes in CONTRACTOR’s policies and
amendments of laws applicable to salaries. For the purpose of
this Article II (b) and Article II (c) of this Annex, salaries and
wages shall mean the assessable amounts for A.R.E. Income
Taxes, including the salaries during vacations and sick leaves,
but excluding all the amounts of the other items covered by the
percentage xed under (2) below.
‫صورة إ‬
(2) For expatriate employees permanently assigned to Egypt:
1. All allowances applicable to salaries and wages;
2. Cost of established plans; and
3. ‫لك‬
All travel and relocation costs of such expatriate employees
‫تروني‬
and their families to and from the employee’s country or point
of origin at the time of employment, at the time of separation,
‫ة ال يع‬
or as a result of transfer from one location to another and for
vacation (transportation costs for employees and their families
transferring from the A.R.E. to another location other than their
‫تد بها‬
country of origin shall not be charged to A.R.E. Operations).

Costs under this Article II (b) (2) shall be deemed to be
equal to seventy percent (70%) or applied percentage, which
‫عند ا‬
is lesser, of basic salaries and wages paid for such expatriate

personnel including those paid during vacations and sick leaves
‫ل‬
as established in CONTRACTOR's international policies,

‫تداول‬
chargeable under Article II (b) (1), Article II (i) of this Annex.

²°²² WM
dÇ Ébd'Ç ±¹¶
WO{d*Ç ÊÇÒUÇè WÏUFÇ ÊÇÒUÇ ÁUMÃ Ñu_Çè ÊUd*Ç æS ¬äU WÃ vKè
UNÃ vK WOU WMO*Ç W MÇ qUF
è .WIU Ç Wu*Ç W MÇ UNODG eFÇè
ë
ÊbàÇè UÇe*U oKF ULO æUd Ç aÑU s ÇÑUÇ WOKFHÇ äèUI*Ç WHKJ q9
- :WOUÇ nOUJÇè
.lUM*Çè sJ Ç äb (±
.ÊUb)Çè lK Ç äb (²
. ÕU)Ç ÑUÇ äb (³
.ÉÒUÇ ÁUMÃ äUIÇ äb (´
.ÉÒUÇ ÁUMÃ dH Ç nÑUB äb (µ
.ÉÒUÇ ÁUMÃ bzÇeÇ gHFÇ äb (¶
.(VU_Ç 5Hu*Ç ÁUM_) rOKFÇ Êb (·
‫صورة إ‬
vÅ éÏR vÇè) WOJd_Ç Éb*Ç ÊUuÇ WdC v{ÇdÇ qUI*Ç (¸
.(WI *Ç W MÇ iOH
‫لك‬
.WOBAÇ WF_Ç se (¹
‫تروني‬
.WOeM*Ç ÊÇbbÇ nOUJ (±°
.WÑUIFÇ ã_Ç ÉÑÇÏÅ åu
Ñ (±±
‫ة ال يع‬
.tOdÇ äb (±²

. bUIÇ åUE (±³
‫تد بها‬
.ÉUO(Ç vK vUL'Ç 5QÇ åUE (±´

‫عند ا‬
.wUL'Ç vDÇ 5QÇ (±µ

.eFÇè Öd*Ç (±¶
‫ل‬
‫تداول‬
.( UN ÍdB*Ç ÉÒUÇ v dH Ç ÊUIH ÁUM

U) Wub*Ç ÉÒUÇ rE (±·
±¹· ²°²² WM
dÇ Ébd'Ç
However, salaries and wages during vacations, sick leaves

and disability are covered by the foregoing percentage.
The percentage outlined above shall be deemed to reect
CONTRACTOR's actual costs as of the Effective Date with
regard to the following benets, allowances and costs:-
1. Housing and Utilities Allowance.
2. Commodities and Services Allowance.
3. Special Rental Allowance.
4. Vacation Transportation Allowance.
5. Vacation Travel Expense Allowance.
6. Vacation Excess Baggage Allowance.
7. Education Allowances (Children of Expatriate Employees).
‫صورة إ‬
8. Hypothetical U.S. Tax Offset (which results in a reduction
of the chargeable percentage).
9. Storage of Personal Effects. ‫لك‬
‫تروني‬
10. Housing Refurbishment Expense.
11. Property Management Service Fees.
‫ة ال يع‬
12. Recreation Allowance.

13. Retirement Plan.
‫تد بها‬
14. Group Life Insurance.

15. Group Medical Insurance.
‫عند ا‬
16. Sickness and Disability.

‫ل‬
17. Vacation Plans Paid (excluding Allowable Vacation Travel

‫تداول‬
Expenses).
²°²² WM
dÇ Ébd'Ç ±¹¸
.ÑU ÏÇ åUE (±¸

.WdJ FÇ Wb)Ç äb (±¹
.bUIK vÇÑbOHÇ 5QÇ åUE (²°
.äULFÇ ÊUCuF (²±
.WUDÇ b{ WuÇ 5Qè vÇÑbOHÇ 5QÇ (²²
.5Hu*Ç qI ÊUIH (²³
.vuIÇ 5QÇ (²´
.tOUF WOU{Ç UÇe*Ç vK q bÇ VzÇd{ (²µ
æUd Ç aÑU s ÊÇuM
(³) Ë q tOUF W{u*Ç V MÇ v dEMÇ ÏUFè
vCI0 Ébb V äULF
Ç vK UNO WONÇè äèUI*Ç oH vÇ ÊUè_Ç vè
.ÉdIHÇ çc
‫صورة إ‬
nOUJÇ v ÊÇdOGÇ ÑUÇ v c Q V MÇ çc v éd& vÇ ÊbFÇè
ÊbÇ s Uë Ã bF èÃ äbF b écÇ äèUILK ÉÑdI*Ç WOèbÇ rEMÇ ÊbFè
‫لك‬
.tOUF ÉÑuc*Ç UÇe*Çè
‫تروني‬
lOL' W MU WOKFHÇ äèUI*Ç nOUJ ¬æUJÇ Ñb ¬WbF*Ç V MÇ fJFè
.tOHu ÊIMè ÉÑdI*Ç çUÇeè tb
‫ة ال يع‬
nOUJè ÊbÇ WU ¬WR WHB dB0 5IK*Ç VU_Ç 5HuLK W MU (³)
WOèbÇ rEMK Uë I Wub*Ç 5Hu*Ç Áu qIè dH
nOUJ qè ÉÑdI*Ç rEMÇ
‫تد بها‬
.WOU{Å WÑÇÏÅ ÁUÃ WÃ nOUJÇ çc qLA è .äèUI*Ç éb ÉÑdI*Ç
s W{èdH*Ç ÊÇdbIÇ èÃ æuUIK Uë I Wub*Ç ÊUÇdÇ èÃ ÊUIHMÇ WLàààO (´)
‫عند ا‬
U* Uë Iè ÑuÃè ÊUd s WULFÇ WHKJ vK éd vÇè ¬WOuJ(Ç ÊUONÇ

ÉÏU*Ç s (×) ÉdIHÇè (²) (È) ÉdIHÇè (±) (È) ÉdIHÇ v tOK ÕuBM u
‫ل‬
‫تداول‬
.oK*Ç Çc v WOUÇ

±¹¹ ²°²² WM
dÇ Ébd'Ç
18. Savings Plan.

19. Military Service Allowance.
20. F.I.C.A.
21. Workman’s Compensation.
22. Federal and State Unemployment Insurance.
23. Personnel Transfer Expense.
24. National Insurance.
25. Income taxes on above additional benets.
The percentages outlined above shall be reviewed at intervals
of three (3) years from the Effective Date and at such time
CONTRACTOR and EGPC will agree on new percentages to
be used under this paragraph.
Revisions of the percentages will take into consideration
‫صورة إ‬
variances in costs and changes in CONTRACTOR's
international policies which change or exclude any of the
above allowances and benets.
‫لك‬
The revised percentages will reect as nearly as possible
‫تروني‬
CONTRACTOR's actual costs of all its established allowances
and benets and of personnel transfers.
‫ة ال يع‬
(3) For expatriate employees temporarily assigned to Egypt all
allowances, costs of established plans and all travel relocation
costs for such expatriates as paid in accordance with
‫تد بها‬
CONTRACTOR’s international policies. Such costs shall not

include any administrative overhead.
‫عند ا‬
(4) Costs of expenditure or contributions made pursuant to law or

assessment imposed by Governmental authority which are
‫ل‬
applicable to labor cost of salaries and wages as provided under

‫تداول‬
Article II (b) (1), Article II (b) (2) and Article II (i) of this Annex.
²°²² WM
dÇ Ébd'Ç ²°°
:ϡϬΑ ΔϘϠόΗϣϟ΍ ϑϳϟΎϛΗϟ΍ϭ ϥϳϳϧρϭϟ΍ ϥϳϠϣΎόϟ΍ ΕϻΩΑϭ Ύϳ΍ίϣ (Ν)

f
qU2 ÓU
Ã vK ÉÏUF*Ç UÇe*Çè ÊbÇè vU{Ç qLFÇ dÃè ÊPUJ*Ç
(±) (È) ÉdIHK Uë Iè Wu ;Ç .Ù.å.Ì v qLF vÇè äèdÇ ÊUd v UN äuLF*Ç
lÇu Wb)Ç WUN ÉQUJ V %è .oK*Ç Çc s WOUÇ ÉÏU*Ç çc s (×) ÉdIHÇè
bK UNLO v WèU æuJè ÊUd*Ç áuAJ WMO*Ç Ñu_Ç vK oD ÉÏb W
..Ù.å.Ì v qLFÇ æuUI Uë Iè Wb)Ç ÁUNÅ ÉQUJ lb åÇe vB_Ç
:Ω΍ϭϣϟ΍ (Ω)
WdAÇ èÃ äèUI*Ç nuÇ ÇcN UÏÑuè UNdA vÇ ÊÇÏÇbÇè ÊÇbF*Çè ÏÇu*Ç
.ÊUOKLFU WLzUIÇ
:ΕΎϳέΗηϣϟ΍ (˺)
WdAÇ èÃ äèUI*Ç tFb écÇ dF U æuJ ÉÇdA*Ç ÊÇÏÇbÇè ÊÇbF*Çè ÏÇu*Ç
‫صورة إ‬
ë ÊUOKLFU WLzUIÇ
vÇ ÊUuB)Ç WU äÇeM
Ç bF UN WIKF nOUJ WÃ ÇbzÇÒ
. ë F UNOK qB
‫لك‬
:ϝϭΎϘϣϟ΍ ΎϫΩέϭϳ ϰΗϟ΍ Ω΍ϭϣϟ΍ (˻)
‫تروني‬
ë O pÐ æU ULK ÉdU ÊUOKLFÇ UNKD vÇ ÏÇu*Ç WU édA
¬Uë OKL ÇÑu
‫ة ال يع‬
WU)Ç æÒU*Ç s ÏÇu*Ç çc q ÏÑu æÃ äèUILK Òu tÃ ÁUM
U pÐè
- :WOÇ ×èdAU pÐè .Ù.å.Ì ÌÑU t WFUÇ ÊUàààààdAU èÃ äèUI*U
‫تد بها‬
:("΃" ΔϟΎΣ) ΓΩϳΩΟϟ΍ Ω΍ϭϣϟ΍ –˺

s èÃ t WFUÇ ÊUdAÇ s èÃ äèUI*Ç æÒU s qIM vÇ Ébb'Ç ÏÇu*Ç
‫عند ا‬
ÏÇu*Ç WHKJ be Ã ×dA WHKJÇ dF UdOF r éd _Ç ÊUJKL*Ç

bÑuÇ ×èdè ÙuMÇ v UN WKU2 ÏÇu* ÉbzU Ç WOèbÇ ÑUF
_Ç s ÉÏÑu*Ç
‫ل‬
‫تداول‬
.ÏÇu*Ç çc tO ÊÏÑè écÇ XuÇ v

²°± ²°²² WM
dÇ Ébd'Ç
(c) Benets, allowances and related costs of national employees:

Bonuses, overtime, customary allowances and benets on a basis
similar to that prevailing for Oil companies operating in the A.R.E., all
as chargeable under Article II (b) (1) and Article II (i) of this Annex.
Severance pay will be charged at a xed rate applied to payrolls
which will equal an amount equivalent to the maximum liability for
severance payment as required under the A.R.E. Labor Law.
(d) Material:
Material, equipment and supplies purchased or furnished as such by
CONTRACTOR or Operating Company.
(1) Purchases:
Material, equipment and supplies purchased shall be at the price
paid by CONTRACTOR or Operating Company plus any related
‫صورة إ‬
cost and after deduction of all discounts actually received.
(2) Material Furnished by CONTRACTOR:
Material required for operations shall be purchased directly
‫لك‬
‫تروني‬
whenever practicable, except that CONTRACTOR may furnish
such material from CONTRACTOR's or CONTRACTOR's
Afliated Companies stocks outside the A.R.E. under the
‫ة ال يع‬
following conditions:
1. New Material (Condition "A"):
‫تد بها‬
New Material transferred from CONTRACTOR's or

CONTRACTOR's Afliated Companies warehouse or other
‫عند ا‬
properties shall be priced at cost, provided that the cost of

material supplied is not higher than international prices for
‫ل‬
material of similar quality supplied on similar terms, prevailing

‫تداول‬
at the time such material was supplied.

²°²² WM
dÇ Ébd'Ç ²°²
:("Ν" ϭ "Ώ" ΔϟΎΣ) ΔϠϣόΗγϣϟ΍ Ω΍ϭϣϟ΍ – ˻

ÉÏU WU æèÏ äULF
Ç ÉÏU W(Uè WLOK
WU v æuJ vÇ ÏÇu*Ç (Ã)
dàààF
s (¥·µ) WzU*Ç v 5F
è W L dF è "È" WU X% ÌÑb bb&
.UNM bb'Ç
ÖdGÇ v UNULF
Ç sJ1 sJè "È" WU X% UNÇÑÏÅ sJ1 vÇ ÏÇu*Ç (È)
WU X% ÌÑb çcN Ubb& ÉÏUààÅ sJ1 Wdu ÈU
_ sJè UNM vK_Ç
.UNM bb'Ç dF
s (¥µ°) WzU*Ç vàààà 5 L dF è "Ì"
V
UM vÇ WLOIU dF çcè "Ì" èÃ "È" WU X% UNÇÑÏÅ sJ1 vÇ ÏÇu*Ç (Ì)
.UNÇb
Ç l
UNHKJ qL% ÁUAÇ nOUJ WMLC*Ç ÊÇbF*Ç s pÐ dOè vU*Çè ZÑUNBÇ (Ï)
.UNM pJH*Ç bb'Ç dF
s W
UM*Ç Wu*Ç W MÇ ÓU
Ã vK
:ϝϭΎϘϣϟ΍ ϥϣ ΓΩέϭϣϟ΍ Ω΍ϭϣϟ΍ ϥΎϣο – ˼
tb écÇ æULCÇ s hIM èÃ vK be U0 UÏÑu vÇ ÏÇu*Ç äèUI*Ç sLC
‫صورة إ‬
WMzÇbÇ WLOIÇ bOI WOF ÏÇu Ïuè WU vè .ÏÇu*Ç çcN ZM*Ç èÃ ÙÒu*Ç
.rNzè èÃ 5M*Ç s Wu Ç WLO äèUI*Ç rK æÃ bF Å dUbU
‫لك‬
ÊUIHMÇè nOUJÇ sL{ ÑUOGÇ lDè ÊULN*Ç s vFK Ç æèe*Ç WLO V
‫تروني‬
.ÊUOKLFÇ v UNÇb
Ç bM Å çÃ WdF*Ç ÏÇÏd
WKUIÇ
:ϥϳϠϣΎόϟ΍ ϊϳίϭΗ ΓΩΎϋ·ϭ ϝϘϧ ϑϳϟΎϛΗ (˰ϫ)
‫ة ال يع‬
WLzUIÇ WdAÇ èÃ äèUI*Ç WDAÃ ÉÑÇÏ WÒÇ ÊÇbÑuÇè ÏÇu*Çè ÊÇbF*Ç qI (±)
.ÊUOKLFU
‫تد بها‬
ÉÑdI*Ç rEMÇ UNODG vÇ Ïèb(Ç v WOKB*Ç äUL qIMÇè dHààà Ç ÊUèdB (²)
æuHu*Ç UNFÏè UNKL% vàààÇ 5OM uÇè VU_Ç 5HuLK Wààà MU èÃ äèUàààILK
WLzUIÇ WdàààAÇ èÃ äèUI*Ç qL ÉÑÇÏ äèUàààI*Ç rNM UNFbè UàààNKL vàààÇ èÃ
‫عند ا‬
.ÊUOKLFU
‫ل‬
UNODG vÇ Ïèbààà(Ç v æuJ 5OM uÇ 5àààHu*Ç lÒu ÉÏUÅè qàààI nàààOUJ (³)
‫تداول‬
.ÉÑdI*Ç rEMÇ
²°³ ²°²² WM
dÇ Ébd'Ç
2. Used Material (Conditions "B" and "C"):

a) Material which is in sound and serviceable condition and is suitable
for reuse without reconditioning shall be classed as Condition
"B" and priced at seventy-ve percent (75%) of the price of new
material.
b) Material which cannot be classied as Condition "B" but which
is serviceable for original function but substantially not suitable
for reconditioning, shall be classed as Condition "C" and priced
at fty percent (50%) of the price of new material.
c) Material which cannot be classied as Condition "B" or Condition
"C" shall be priced at a value commensurate with its use.
d) Tanks, buildings and other equipment involving erection costs
shall be charged at applicable percentage of knocked - down new
price.
(3) Warranty of Materials Furnished by CONTRACTOR:
CONTRACTOR does not warrant the material furnished beyond
‫صورة إ‬
or back of the dealer’s or manufacturer’s guaranty; and in case of
defective material, credit shall not be recorded until adjustment
has been received by CONTRACTOR from manufacturers or
their agents.
‫لك‬
The value of the Warehouse stock and spare parts shall be charged
‫تروني‬
to the cost recovery category dened above, only when used in
operations.
‫ة ال يع‬
(e) Transportation and Employee Relocation Costs:
(1) Transportation of equipment, materials and supplies necessary
for the conduct of CONTRACTOR’s or Operating Company's
‫تد بها‬
activities.
(2) Business travel and transportation expenses to the extent covered
by established policies of CONTRACTOR or with regard to
‫عند ا‬
expatriate and national employees, as incurred and paid by, or

for, employees in the conduct of CONTRACTOR's or Operating
Company's business.
‫ل‬
‫تداول‬
(3) Employees transportation and relocation costs for national

employees to the extent covered by established policies.
²°²² WM
dÇ Ébd'Ç ²°´
:ΕΎϣΩΧϟ΍ (ϭ)
vÇ lUM*Çè ÊUb)Çè sÑUA LK WbUFÇ nOUJÇ :WOÑU)Ç ÊUb)Ç (±)
.dOGÇ UNb
v ULN WFUÇ ÊUdAÇ èÃ äèUI*Ç èÃ WONÇ UN XU vÇ ÊUb)Ç WHKJ (²)
ÊUdAÇ èÃ ULNÃ èÃ äèUI*Çè WONÇ åuIè .Ù.å.Ì ÌÑU èÃ q ÇÏ ÊÇeONÇ
ÊO Ç dO H q WOMOèdÇè ÉÑdJ*Çè WLEM*Ç ÊUb)U ULN WFUÇ
WOIeOuO'Çè WOuuO'Ç ÊU
ÇÑbÇ pcè ULNÃ èÃ éd _Ç qOUÇè WO O UMG*Ç
áUAJ
dB WÇu ä s UNzÇdA äèUI*Ç åuI vÇè åÇeÇ WIDM0 WU)Ç
åuIè .tOK oH ébUF dF
ÓU
Ã vK pÐ qOL% rè ¬(EUG) ÌUÇè
VKD vÇ édJÇ ÊUèdA*U ULN WFUÇ ÊUdAÇ èÃ ULNÃ èÃ äèUI*Çè WONÇ
.tOK oH ébUF dF WOLOLBè WO
bM ÊUb
ULN WFUÇ ÊUdAÇ èÃ äèUI*Ç èÃ WONK qUJU WuKL*Ç ÊÇbF*Ç äULF
Ç (³)
‫صورة إ‬
Ã ×dAè tKOGAè q_Ç pK9 WHKJ l V
UM WÑUÅ W ÓU
Ã vK qL%
..Ù.å.Ì v cMO
í ÉbzU Ç WO UMÇ ÊUHÇ s WHÇ çc be
‫لك‬
ÊUèdB WU{Å sLC t WFUÇ ÊUdAÇè äèUI*Ç UN VUD vÇ ÊUHÇ (´)
‫تروني‬
.WOU{Å nOUJ èÃ WU WÑÇÏÅ
‫ة ال يع‬
:έ΋ΎγΧϟ΍ϭ έ΍έοϷ΍ (ί)
UN
vÇ dzU )Ç èÃ ÑÇd{_Ç ÍÅ èÃ WÇÒ WÒÇ ÊUèdB*Ç èÃ nOUJÇ lOL
äèUILK ÉdDO
d Â V
éÃ èÃ ËÏÇu èÃ Wd
èÃ nÇu èÃ æUCO èÃ od
‫تد بها‬
äèUI*Ç vKè .WuIF WUMè bN s äc U0 tOK ÊUOKLFU WLzUIÇ WdAÇ èÃ
ë
èÃ ÑÇd{_Ç s Uë OU ÇÑUD Å äèUI*Çè WONK q
d æÃ ÊUOKLFU WLzUIÇ WdAÇ èÃ
‫عند ا‬
s ÑèÏ (±°[°°°) áÂ ÉdA vK tLO be ULO UN ÖdF vÇ dzU )Ç
‫ل‬
æÃ bF sJ2 Xè Ùd

Ã v pÐè ËÏU q s WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ
‫تداول‬
ë
.ËÏU(Ç s ÇddI ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç vIK
²°µ ²°²² WM
dÇ Ébd'Ç
(f) Services:
(1) Outside services: The costs of contracts for consultants, services
and utilities procured from third parties.
(2) Cost of services performed by EGPC, by CONTRACTOR or
by their Afliated Companies in facilities inside or outside the
A.R.E. Regular, recurring, routine services, such as interpreting
magnetic tapes and/or other analyses, shall be performed and
charged by EGPC and/or CONTRACTOR or their Afliated
Companies, as well as, geological and geophysical studies
relevant to the Concession Area purchased by CONTRACTOR,
through EUG, at an agreed contracted price. Major projects
involving engineering and design services shall be performed by
EGPC and/or CONTRACTOR or their Afliated Companies at a
negotiated contract amount.
‫صورة إ‬
(3) Use of EGPC’s, CONTRACTOR’s or their Afliated Companies’
wholly owned equipment shall be charged at a rental rate
commensurate with the cost of ownership and operation, but not
‫لك‬
in excess of competitive rates currently prevailing in the A.R.E. .
‫تروني‬
(4) CONTRACTOR’s and CONTRACTOR’s Afliated Companies’
rates shall not include any administrative or overhead costs.
‫ة ال يع‬
(g) Damages and Losses:
All costs or expenses, necessary to replace or repair damages or
losses incurred by re, ood, storm, theft, accident or any other cause
‫تد بها‬
not controllable by CONTRACTOR or Operating Company through

the exercise of reasonable diligence. CONTRACTOR or Operating
‫عند ا‬
Company shall furnish EGPC and CONTRACTOR written notice of

damages or losses incurred in excess of ten thousand ($10,000) U.S.
‫ل‬
Dollars per occurrence, as soon as practicable after report of the same

‫تداول‬
has been received by CONTRACTOR or Operating Company.

²°²² WM
dÇ Ébd'Ç ²°¶
:ΕΎΑϟΎρϣϟ΍ϭ ϥϳϣ΄Ηϟ΍ (Ρ)

5QÇ s pÐ dOè ÊUJKL*Çè dOGU ÑÇd{Ç s WOu *Ç b{ 5QÇ nOUJ
tOHu q rNM ád éÃ èÃ áÇd _Çè ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç WOu b{
èÃ ¬WuJ(Ç s ÉÑÏUBÇ `zÇuKÇè dÇè_Çè 5ÇuIÇ tKD UL ULNM éÃ èÃ dOGÇè
èÃ ÊUMOQÇ çc s éÃ WKOB ÊUOKLFÇ ÙB bOIè ¬áÇd _Ç tOK oH UL
.WUD qLF WOKFHÇ nOUJÇ UNM Uë uIM ¬ÊUUD*Ç
v Uë OèÏ WOd*Ç WLOK Ç äu_Ç V pÐè 5F dD b{ 5QÇ åb WU v
äèUI*Ç UNFÏè UNKL% vÇ dD)Ç ÇcN WIKF*Ç WOKFHÇ ÊUIHMÇ WU qL% ¬XeÇ qI
ÑÇd{_Çè ÊUUD*Çè dzU )Ç q èÃ s éÃ Wu v ÊUOKLFU WLzUIÇ WdAÇ èÃ
.WOuUIÇ ÊUb)Ç pÐ v U0 ¬ÊUèdB*Ç s pÐ dOè åUJ_Çè
:ΓέηΎΑϣϟ΍ έϳϏ ΕΎϓϭέλϣϟ΍ (ρ)
ÊUJè æÒU*Çè qU Ç vKdI*Ç q ÊON Çè dJ FLK WUFÇ ÊUèdB*Ç
‫صورة إ‬
qI(Ç Wè qI(Ç vK 5dA*Ç 5Hu*Ç ÊUèdBè ÊUdè âdDÇ ÊUJè çUO*Ç
.dU dO odD WIDM*Ç æub scÇ sd Ç 5OuLFÇ 5Hu*Çè sbU *Çè
‫لك‬
:ΔϳϧϭϧΎϘϟ΍ ΕΎϓϭέλϣϟ΍ (ϯ)
‫تروني‬
U2 UdOè WOuUIÇ ÊUb)Ç èÃ v{UIÇ v oHM vÇ ÊUèdB*Çè nOUJÇ WU
‫ة ال يع‬
u vK rNUèdBè ÉUU;Ç ÈUFÃ pÐ v U0 ¬WIDM*Ç WUL( V
UM èÃ åÒ u
éÃ èÃ áÇd _Ç b{ ÊÑb vÇ åUJ_Ç WU pcè ¬wK ULO tOK ÕuBM u U
WOKFHÇ ÊUèdB*Ç pcè ¬WOUHÇ çc v UNOK ÕuBM*Ç ÊUOKLFÇ æQA rNM
‫تد بها‬
WÏÃ vK äuB(Ç qO

v WOUHÇ çcN áÇd Ã èÃ ád éÃ UNKL% b æuJ vÇ
ÇÐÅè .WOUHÇ Ùu{u èÃ ÊUOKLFÇ ÁÇÒÅ tu WUD èÃ ld éuÏ WÃ v ÙUbÇ
‫عند ا‬
æuHu*Ç Uuè WOUHÇ çc v ÉÏÑÇuÇ ÙB*Ç f9 ÊUUD èÃ éèUÏ ãUM XU
‫ل‬
nOUJ ÊUOKLFÇ qL% æÃ ÒuO ¬WOUHÇ çc áÇd Ã s dÃ èÃ ádD æuOuUIÇ
‫تداول‬
.ÊUb)Ç çc .bIè ÁÇÏ_ W

UM
²°· ²°²² WM
dÇ Ébd'Ç
(h) Insurance and Claims:

The cost of any public liability, property damage and other insurance
against liabilities of CONTRACTOR, Operating Company and/or the
parties or any of them to their employees and/or outsiders as may be
required by the laws, rules and regulations of the GOVERNMENT
or as the parties may agree upon. The proceeds of any such insurance
or claim collected, less the actual cost of making a claim, shall be
credited against operations.
If no insurance is carried for a particular risk, in accordance with
good international Oil eld practices, all related actual expenditures
incurred and paid by CONTRACTOR or Operating Company in
settlement of any and all losses, claims, damages, judgments and any
other expenses, including legal services.
(i) Indirect Expenses:
Camp overhead and facilities such as shore base, warehouses, water
‫صورة إ‬
systems, road systems, salaries and expenses of eld supervisory
personnel, eld clerks, assistants, and other general employees
indirectly serving the Area.
(j) Legal Expenses: ‫لك‬
‫تروني‬
All costs and expenses of litigation, or legal services otherwise
necessary or expedient for the protection of the Area, including
‫ة ال يع‬
attorney’s fees and expenses as hereinafter provided, together with
all judgments obtained against the parties or any of them on account
of the operations under the Agreement, and actual expenses incurred
‫تد بها‬
by any party or parties hereto in securing evidence for the purpose of

defending against any action or claim prosecuted or urged against the
operations or the subject matter of the Agreement. In the event actions
‫عند ا‬
or claims affecting the interests hereunder shall be handled by the

legal staff of one or more of the parties hereto, a charge commensurate
‫ل‬
with cost of providing and furnishing such services may be made to

‫تداول‬
operations.
²°²² WM
dÇ Ébd'Ç ²°¸
:Δϳϣϭϣόϟ΍ϭ ΔϳϓΎοϹ΍ Δϳέ΍ΩϹ΍ ΕΎϓϭέλϣϟ΍ (ϙ)

v OzdÇ VJ*Ç bèe YÇ ÊUOKL ÉdU0 äèUI*Ç åUO ÁUMÃ WÒÇ nOUJÇ (±)
v f
R vÇ éd _Ç VUJ*Ç pcè ¬tÑÇÏè 5Hu*U .Ù.å.Ì v äèUILK
qI(Ç v ÉQAM*Ç VUJ*Ç á ¬Uë
UM pÐ æU ULK ¬ULNÃ èÃ .Ù.å.Ì
s (×) WOUÇ ÉÏU*Ç v tOK ÕuBM u U u vK UNHKJ qL% vÇ
UNubè WIDM*U Uë R 5IK*Ç äèUI*Ç vHu ÊUd ÁUM
Uè ¬oK*Ç Çc
ÉÏU*Ç s (È) ÉdIHÇ v tOK ÕuBM u U u vK qL% çc æS ÉdU
.oK*Ç Çc s WOUÇ
vHu nOUJ ÊUOKLFÇ vK qL% ¬ÊUOKLFK WdA*Ç WdAÇ ÉdU ÁUMÃ (²)
5dA*Çè WUFÇ WOJ*Çè WOUJÇ äUL_Ç v æuKGA scÇ WdA*Ç WdAÇ
lOLè ¬qI(Ç æèÏ v OzdÇ VJ*U WU WHB rNè æuCI scÇ 5Hu*Çè
qL% scÇ 5ÑÇÏÇè 5OuLFÇ 5Hu*Ç s WU WHB æèdF scÇ 5Hu*Ç
5 dN q ÊUèdB*Ç çc ÙÒuè ¬ÊUèdB*Ç s d Â Ùu éÃ vK rNUIH
‫صورة إ‬
.WOKLFÇè WLOK Ç WO
U;Ç VOU
Uë Iè WOLMÇ ÊUOKLè YÇ ÊUOKL
:Ώ΋΍έοϟ΍ (ϝ)
‫لك‬
èÃ äèUI*Ç .Ù.å.Ì v UNFÏ vÇ WOdCÇ izÇdHÇ èÃ åu
dÇ èÃ VzÇdCÇ WU
‫تروني‬
ÉdIHÇ Ùu{u VzÇdCÇ ÁUM
U ¬WOUHÇ çc âUD v ÊUOKLFU WLzUIÇ WdAÇ
.WOUHÇ s WUÇ ÉÏU*Ç s (±) (Ò)
‫ة ال يع‬
:έϣΗγϣϟ΍ ϝϭΎϘϣϟ΍ ϑϳϟΎϛΗ (ϡ)
æèÏ Ubè .Ù.å.Ì v UNKLè WOUHÇ UNOCI vÇ äèUI*Ç WDAÃ nOUJ
‫تد بها‬
vÇ ÊUFO*Ç ÊUèdB ÏÇÏd

Ç Òu è ÊUOKLFU WLzUIÇ WdAÇ suJ bF UdO
.WHKJ UNÃ vK .Ù.å.Ì q ÇÏ èÃ ÌÑU qL%
‫عند ا‬
:ϯέΧ΃ ΕΎϘϔϧ (ϥ)

tOUF ÉÏÑÇuÇ åUJ_Ç tèUMè tKL U á ÊUIH èÃ ÊUèdB èÃ nOUJ WÃ
‫ل‬
ZÇd Vu0 ÊUOKLFU WLzUIÇ WdAÇ èÃ äèUI*Ç UNKL% b æuJ ¬WOUÇ ÉÏU*Ç çc v
‫تداول‬
.ÉbLF*Ç ÊUÒÇu*Çè qLFÇ

²°¹ ²°²² WM
dÇ Ébd'Ç
(k) Administrative Overhead and General Expenses:

(1) While CONTRACTOR is conducting Exploration operations, the
cost of stafng and maintaining CONTRACTOR’s head ofce
in the A.R.E. and/or other ofces established in the A.R.E. as
appropriate other than eld ofces which shall be charged as
provided for in Article II (i) of this Annex, and excepting salaries
of employees of CONTRACTOR who are temporarily assigned
to and directly serving on the Area, which shall be charged as
provided for in Article II (b) of this Annex.
(2) While the Joint Venture Company is conducting operations, the
Joint Venture Company’s personnel engaged in general clerical
and ofce work, supervisors and ofcers whose time is generally
spent in the main ofce and not the eld, and all employees
generally considered as general and administrative and not
charged to other types of expense shall be charged to operations.
Such expenses shall be allocated each month between Exploration
‫صورة إ‬
and Development operations according to sound and practicable
accounting methods.
(l) Taxes:
‫لك‬
All taxes, duties or levies paid in the A.R.E. by CONTRACTOR or
‫تروني‬
Operating Company with respect to this Agreement other than those
covered by Article III (g) (1) of the Agreement.
‫ة ال يع‬
(m) Continuing CONTRACTOR Costs:
Costs of CONTRACTOR activities required under the Agreement
and incurred exclusively in the A.R.E. after Operating Company is
‫تد بها‬
formed. No sales expenses incurred outside or inside the A.R.E. may

be recovered as a cost.
(n) Other Expenditures:
‫عند ا‬
Any costs, expenses or expenditures, other than those which are

covered and dealt with by the foregoing provisions of this Article II,
‫ل‬
incurred by CONTRACTOR or Operating Company under approved

‫تداول‬
Work Programs and Budgets.

²°²² WM
dÇ Ébd'Ç ²±°
ΔΛϟΎΛϟ΍ ΓΩΎϣϟ΍
ΩέΟϟ΍
:ϩέϭοΣϭ ϪΑ έΎρΧϹ΍ϭ ϯέϭΩϟ΍ ΩέΟϟ΍ (΃)
W
UM ÊÇd vK ÊUOKLFU WLzUIÇ WdAÇ WdF0 ÊUOKLFÇ ÊULN Ïd r
W
uLK*Ç äu_Çè ÏÇu*Ç lOL Ïd'Ç qLAè ¬äèUI*Çè WONÇ tOK oH U vK ÁUM
äèUI*Çè WONÇ s q ÑUD S ÊUOKLFU WLzUIÇ WdAÇ åuIè .WOzUAÇ ÊUèdA*Çè
qO9 vM v q_Ç vK Uë u (³°) 5 çbu q Ïd'Ç v UNd WU ë
äU
ÑÅ s ULNÃ èÃ äèUI*Çè WONÇ nKè .Ïd WOKL éQ åUOIÇ bM äèUI*Çè WONÇ
WLzUIÇ WdAÇ tdÃ écÇ Ïd'Ç tM dH U äuI nK*Ç åeK ¬Ïd'Ç ÑuC( 5K2
Ïd'Ç s ÉÑu äU
ÑÅ ÊUOKLFU WLzUIÇ WdAÇ vK 5F WU(Ç çc vè ¬ÊUOKLFU
.ë 2 sJ r écÇ ádDÇ vÅ
:ΩέΟϟ΍ ϝϳΩόΗϭ ΔϳϭγΗ (Ώ)
‫صورة إ‬
ÉÏUeU ÕU)Ç nAJÇ Ïbè WONÇè äèUI*Ç WdF0 Ïd'U WU)Ç ÊUu Ç éd&
Ïd'Ç rzÇu äbFè .WONÇè äèUI*Çè ÊUOKLFU WLzUIÇ WdAÇ 5 ãÇdU eFÇè
‫لك‬
.ÊUOKLFU WLzUIÇ WdAÇ WdF0
‫تروني‬
ΔόΑ΍έϟ΍ ΓΩΎϣϟ΍
‫ة ال يع‬
ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγ΍
:ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγϻ ιλΧϣϟ΍ ϝϭέΗΑϟ΍ ϑϭηϛϭ ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγ΍ ϑϭηϛ (˺)
‫تد بها‬
Ùd
Ã v WONK åbI æÃ WOUHÇ s WFU Ç ÉÏU*Ç åUJ_ Uë Iè ¬äèUI*Ç vK 5F
áuA å
Ç s Uë u (±µ) dA W L ÒèU bu v sJè ¬sJ2 Xè
‫عند ا‬
Uë HA ¬WO1uIÇ WM
ldK YÇè WOLMÇ ×UAM WU)Ç ÊUOKLFU WLzUIÇ WdAÇ
:`{u ãÇÐ WM Ç lÑ s
‫ل‬
‫تداول‬
.Êbè æÅ ¬oU Ç WM Ç lÑ s WKd*Ç ÏÇÏd

Ç WÇuÇ nOUJÇ – ±
²±± ²°²² WM
dÇ Ébd'Ç
ARTICLE III
INVENTORIES
(a) Periodic Inventories, Notice and Representation:
At reasonable intervals as agreed upon by EGPC and CONTRACTOR
inventories shall be taken by Operating Company of the operations
materials, which shall include all such materials, physical assets and
construction projects. Written notice of intention to take inventory
shall be given by Operating Company to EGPC and CONTRACTOR
at least thirty (30) days before any inventory is to begin so that EGPC
and CONTRACTOR may be represented when any inventory is taken.
Failure of EGPC and/or CONTRACTOR to be represented at an
inventory shall bind them to accept the inventory taken by Operating
Company, who shall in that event furnish the party not represented
with a copy thereof.
‫صورة إ‬
(b) Reconciliation and Adjustment of Inventories:
Reconciliation of inventory shall be made by CONTRACTOR and
EGPC, and a list of overages and shortages shall be jointly determined
by Operating Company and CONTRACTOR and EGPC, and the ‫لك‬
‫تروني‬
inventory adjusted by Operating Company.
ARTICLE IV
‫ة ال يع‬
COST RECOVERY
(a) Statements of Recovery of Costs and of Cost Recovery Petroleum:
‫تد بها‬
CONTRACTOR shall, pursuant to Article VII of the Agreement,

render to EGPC as promptly as practicable but not later than fteen
(15) days after receipt from Operating Company of the Statements
‫عند ا‬
for Development and Exploration Activity for the calendar quarter a

Statement for that quarter showing:
‫ل‬
‫تداول‬
1. Recoverable costs carried forward from the previous quarter, if any.

²°²² WM
dÇ Ébd'Ç ²±²
.WM Ç lÑ ÁUMÃ XFÏè XKL vÇ ÏÇÏd

Ç WÇuÇ nOUJÇ – ²
.(²+±) WM Ç lÑ s ÏÇÏd
Ç WÇuÇ nOUJÇ ÙuL – ³
tO ádBè äèUI*Ç tOK qB écÇè nOUJÇ ÏÇÏd
hB*Ç äèdÇ WLO – ´
.WM Ç ld çÏdH0
.WM Ç lÑ s ÊÏd
Ç vÇ nOUJÇ WLO – µ
.Êbè æÅ ¬wUÇ WM Ç lÑ vÅ WKd*Ç ÏÇÏd
Ç WÇuÇ nOUJÇ WLO – ¶
tOK qB écÇ nOUJÇ ÏÇÏd
hB*Ç äèdÇ WLO v ¬bè æÅ ¬izUHÇ – ·
.WM Ç lÑ s ÉÏd *Ç nOUJÇ vK Éè çÏdH0 äèUI*Ç tO ádBè
WOLMÇ WDA_ WLzU q ÏULÇè WFÇd0 WONÇ åuI áu
WFU Ç ÉÏULK Uë I
WM Ç ld WIKF*Ç ÑUF
_Çè ÌUÇ ÊUOL pcè äèUI*Ç s WbI YÇè
WLzU vK äèUI*Ç WD
Çu UÑUÂ fJFM áu
WONK ÊUE éÃ .v1uIÇ
.wUÇ WO1uIÇ WM Ç lÑ
‫صورة إ‬
:ΕΎϋϭϓΩϣϟ΍ (Ώ)
vÅ äèUI*Ç tFb mK*Ç Çc æS WONK o mK Ïuè Ñuc*Ç nAJÇ dNÃ ÇÐÅ
‫لك‬
oH Ã ÇÐÅè .Ñuc*Ç nAJÇ .bI bM WOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèb WONÇ
‫تروني‬
¬ÏÇb Ç pÐ tO o écÇ aÑUÇ v WONK mU*Ç çc s éÃ ÏÇb
v äèUI*Ç
dF
s vKÃ Uë uM
(¥²[µ) WzU*Ç v nBè 5MÇ ÑÇbI0 ÉbzU äèUI*Ç lb czbM
‫ة ال يع‬
ÊÇÑèb ÑuN WÇ ÊÇÐ lzÇÏuK (ÑuO) æbM ãuM WuL t{dF écÇ ÉbzUHÇ
æuJ è ¬ÉbzUHÇ tO V % écÇ aÑUÇ v ÉbzU Çè WOJd_Ç Éb*Ç ÊUuÇ
.ÏÇÏd
WKU Wub*Ç ÉbzUHÇ
‫تد بها‬
:ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγϻ ιλΧϣϟ΍ ϝϭέΗΑϟ΍ ν΋Ύϓ ΔϳϭγΗ (Ν)

nOUJÇ ÏÇÏd
hB*Ç äèdÇ izU s UNUI c Q æÃ v o(Ç WONK
‫عند ا‬
WM Ç lÑ ä WOUHÇ s WFU Ç ÉÏU*Ç s (²) (Ã) ÉdIHÇ ÕuBM Uë Iè Uë MO
vK äèUI*Ç äuB WU v nAJÇ Çc .bI bM WuKD Wu Ç æuJè .Ñuc*Ç
‫ل‬
‫تداول‬
.nOUJÇ ÏÇÏd
hB*Ç äèdÇ s izUHÇ Çc s tUI s dÃ
²±³ ²°²² WM
dÇ Ébd'Ç
2. Recoverable costs incurred and paid during the quarter.

3. Total recoverable costs for the quarter (1) + (2).
4. Value of Cost Recovery Petroleum taken and separately disposed
of by CONTRACTOR for the quarter.
5. Amount of costs recovered for the quarter.
6. Amount of recoverable costs carried into the succeeding quarter,
if any.
7. Excess, if any, of the value of Cost Recovery Petroleum taken and
separately disposed of by CONTRACTOR over costs recovered
for the quarter.
Pursuant to Article VII, EGPC shall audit and approve each
Statement of Development and Exploration Activity submitted
by the CONTRACTOR and the total production and pricing
related to the relevant calendar quarter. Any comments made by
EGPC shall be reected by the CONTRACTOR on the statement
‫صورة إ‬
produced for the next calendar quarter.
(b) Payments:
If such Statement shows an amount due EGPC, payment of that
‫لك‬
amount shall be made in U.S. Dollars by CONTRACTOR with the
‫تروني‬
rendition of such Statement. If CONTRACTOR fails to make any
such payment to EGPC on the date when such payment is due, then
CONTRACTOR shall pay interest of two and one half percent (2.5%)
‫ة ال يع‬
per annum higher than the London Interbank Borrowing Offered Rate
(LIBOR) for three (3) months U.S. Dollars deposits prevailing on
the date such interest is calculated. Such interest payment shall not be
‫تد بها‬
recoverable.
(c) Settlement of Excess Cost Recovery Petroleum:
‫عند ا‬
EGPC has the right to take its entitlement of Excess Cost Recovery
Petroleum under Article VII (a) (2) of the Agreement in kind during
the said quarter. A settlement shall be required with the rendition of
‫ل‬
‫تداول‬
such Statements in case CONTRACTOR has taken more than its own
entitlement of such Excess Cost Recovery Petroleum.
²°²² WM
dÇ Ébd'Ç ²±´
:ΔόΟ΍έϣϟ΍ ϕΣ (Ω)
ë (±²) dA vMÇ Éd v o(Ç WONK æuJ
áuAJÇ s nA éÃ UN
Ç bF ÇdN
.tOK ÖÇdÇè nAJÇ Çc WFÇd0 UNzUMÃ v åuI WFÇdÇ ÉÏU*Ç çc v UNOÅ ÑUA*Ç
ÊÇbM *Çè ÊUU (Ç æuJè ¬UÄÇdÃ åeK ÊbF WÃ vK äèUI*Çè WONÇ oHè
ë (±²) dA vMÇ Éd ÁUMÃ WONK WU ÉbR*Ç
.ÉÑuc*Ç ÇdN
ΔγϣΎΧϟ΍ ΓΩΎϣϟ΍
Δϳγϳ΋έϟ΍ ΕΎΑΎγΣϟ΍ϭ ΔΑϗ΍έϣϟ΍ ΕΎΑΎγΣ
:ΙΣΑϟ΍ ΕΎϣ΍ίΗϟ΍ ΔΑϗ΍έϣ ΕΎΑΎγΣ (΃)
ÙuL WÇd* qUI*Ç vUEMÇ ÈU (Çè YÇ ÊUÇeÇ WÇd* Uë U äèUI*Ç TAM
(È) ÉdI vè_Ç ÉÏU*Ç Vu0 ÉbF*Ç ×UAMÇ áuA v ÉÏÑÇuÇ YÇ ÊUIH mU
bF äèUI*Çè WONÇ UNOK oH ÉbF mU WÃ äÇeM
Ç bF oK*Ç Çc s (±)
(Ì) ÉdI vè_Ç ÉÏULK Uë Iè ÊUOKLFU rzUIÇ dO UNb vÇ WOUJÇ ÊU{ÇdÇ
‫صورة إ‬
.YÇ ÊUÇeÇ s vÏ_Ç b(U ÁUuÇ aÑU bb pÐè oK*Ç Çc s (±)
:ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγ΍ ΔΑϗ΍έϣ ΏΎγΣ (Ώ)
‫لك‬
mK*Ç WÇd* qUI*Ç vUEMÇ ÈU (Çè nOUJÇ ÏÇÏd
Ç WÇd* Uë U äèUI*Ç TAM
‫تروني‬
WLOè ÊÏd
Ç vÇ nOUJÇ mKè .bè æÅ ¬ÏÇÏd
Ç WÇuÇ nOUJÇ s vUÇ
.bè æÅ ¬nOUJÇ ÏÇÏd
hB*Ç äèdÇ s izUHÇ
‫ة ال يع‬
:Δϳγϳ΋έϟ΍ ΕΎΑΎγΣϟ΍ (Ν)

bb pcè nOUJÇ ÏÇÏd
ÊUèdB*Çè ÊUIHMÇè nOUJÇ Vu ÖdG
‫تد بها‬
v ÊUIHMÇè ÊUèdB*Çè nOUJÇ bOI ¬YÇ ÊUÇe vÏ_Ç b(U ÁUuÇ bu
- :vK U rC WO OzÑ ÊUU
‫عند ا‬
.YÇ ÊUIH ·
.qOGAÇ ÊUèdB á WOLMÇ ÊUIH ·
‫ل‬
‫تداول‬
.qOGAÇ ÊUèdB ·
²±µ ²°²² WM
dÇ Ébd'Ç
(d) Audit Right:

EGPC shall have a period of twelve (12) months from receipt of any
Statement under this Article IV in which to audit and raise objection
to any such Statement. EGPC and CONTRACTOR shall agree on any
required adjustments. Supporting documents and accounts will be
available to EGPC during said twelve (12) month period.
ARTICLE V
CONTROL AND MAJOR ACCOUNTS
(a) Exploration Obligation Control Accounts:
CONTRACTOR will establish an Exploration Obligation Control
Account and an offsetting contra account to control therein the total
amount of Exploration expenditures reported on Statements of activity
prepared per Article I (b) (1) of this Annex, less any reductions agreed
to by EGPC and CONTRACTOR following written exceptions taken
by a non-operator pursuant to Article I (c) (1) of this Annex, in order
‫صورة إ‬
to determine when minimum Exploration obligations have been met.
(b) Cost Recovery Control Account:
CONTRACTOR will establish a Cost Recovery Control Account and
‫لك‬
an off-setting contra account to control therein the amount of cost
‫تروني‬
remaining to be recovered, if any, the amount of cost recovered and
the value of Excess Cost Recovery Petroleum, if any.
‫ة ال يع‬
(c) Major Accounts:
For the purpose of classifying costs, expenses and expenditures for
Cost Recovery as well as for the purpose of establishing when the
‫تد بها‬
minimum Exploration obligations have been met, costs, expenses

and expenditures shall be recorded in major accounts including the
‫عند ا‬
following:
- Exploration Expenditures;
‫ل‬
- Development Expenditures other than Operating Expenses;

‫تداول‬
- Operating Expenses;
²°²² WM
dÇ Ébd'Ç ²±¶
.WÒÇ WOdHÇ ÊUU (Ç UN `Hè

W'UFè nOUJÇ ÏÇÏd
Ç WÇd* WÒÇ Ïèb(Ç v q bK ÊUU äèUI*Ç `Hè
.nOUJÇ ÏÇÏd
hB*Ç äèdÇ
ΔγΩΎγϟ΍ ΓΩΎϣϟ΍
Ώ΋΍έοϟ΍ ϕϳΑρΗ ϡΎϛΣ΃
v pc Uë Ïd U ÁUM
U ¬WdB*Ç q bÇ Wd{ 5ÇuI lC äèUI*Ç æÃ åuNH*Ç s
ë Ï qJA .Ù .å.Ì v äèUI*Ç s WUO WONÇ UNFb q Ï VzÇd{ WÃ æÃè ¬WOUHÇ
."qL" éÃ .Ù.å.Ì v q bÇ WdC d Ç u lC ¬äèUILK Uë OU{Å
WUÇ ÉÏU*Ç v Ïb;Ç uMÇ vK éuM Ç äèUI*Ç q Ï u "wzb*Ç äèUI*Ç q Ï" æuJè
vK WI *Ç WdB*Ç q bÇ WdC Uë èU Uë GK tM Uë uIM WOUHÇ s (³) (Ò) ÉdI
.qL*Ç äèUI*Ç q Ï
‫صورة إ‬
l{U)Ç q bÇ" vK äuBK vzb*Ç q bÇ vÅ áUC mK s ÉÑU "WKL*Ç WLOIÇ"è
..Ù.å.Ì v q bÇ VzÇd{ éèU WKL*Ç WLOIÇ æS tOKè "WdCK
‫لك‬
‫تروني‬
:ϪϳϠϋ ˯˱ ΎϧΑϭ
.WKL*Ç WLOIÇ bzÇÒ vzb*Ç q bÇ = WdCK l{U)Ç q bÇ
‫ة ال يع‬
.WdCK l{U)Ç q bÇ vK .Ù.å.Ì v q bÇ Wd{ = WKL*Ç WLOIÇè

WdCK Vd*Ç èÃ éÑU Ç äbF*Ç vMF écÇè .Ù.å.Ì v q bÇ Wd{ äbF æU ÇÐS
‫تد بها‬
XU äbF u .Ù.å.Ì v ÍUÑ_Ç èÃ q bÇ vK W{èdH*Ç VzÇdCÇ nK* WO
:æS ¬q bÇ éu vK bLFè
‫عند ا‬
l{U)Ç q bÇ v Uë èdC .Ù.å.Ì v q bÇ Wd{ äbF = WKL*Ç WLOIÇ

‫ل‬
‫تداول‬
.WdCK
²±· ²°²² WM
dÇ Ébd'Ç
Necessary sub-accounts shall be used.

Revenue accounts shall be maintained by CONTRACTOR to
the extent necessary for the control of recovery of costs and the
treatment of Cost Recovery Petroleum.
ARTICLE VI
TAX IMPLEMENTATION PROVISIONS
It is understood that CONTRACTOR shall be subject to Egyptian
Income Tax Laws except as otherwise provided in the Agreement, that any
A.R.E. Income Taxes paid by EGPC on CONTRACTOR's behalf constitute
additional income to CONTRACTOR, and this additional income is also
subject to A.R.E. income tax, that is "grossed up".
"CONTRACTOR's annual income", as determined in Article III (g) (3)
of this Agreement, less the amount equal to CONTRACTOR’s grossed-
‫صورة إ‬
up Egyptian income tax liability, shall be CONTRACTOR’s "Provisional
Income".
The "gross-up value" is an amount added to Provisional Income to give
‫لك‬
"Taxable Income", such that the grossed-up value is equivalent to the
‫تروني‬
A.R.E. Income Taxes.
THEREFORE:
‫ة ال يع‬
Taxable Income = Provisional Income plus Grossed-up Value

and
‫تد بها‬
Grossed-up Value = A.R.E. Income Tax on Taxable Income.

If the "A.R.E. Income Tax rate", which means the effective or
‫عند ا‬
composite tax rate due to the various A.R.E. taxes levied on income
or prots, is constant and not dependent on the level of income, then:
‫ل‬
‫تداول‬
Grossed-up Value = A.R.E. income tax rate TIMES Taxable Income.

²°²² WM
dÇ Ébd'Ç ²±¸
:æuJ tOUF 5Ñuc*Ç ÉdO _Çè vè_Ç 5ÏUF*Ç rCè

WdCÇ äbF X vzb*Ç q bÇ = WKL*Ç WLOIÇ
WdCÇ äbF - ±
.êdAd J WdCÇ äbF s dF YO
.çQ ÉÑuc*Ç WOU (Ç ÊUOKLFÇ vUÇ éÏbFÇ äU*Ç `{uè
u .Ù.å.Ì v q bÇ Wd{ äbF æÃè ÑèÏ ±° u vzb*Ç q bÇ æÃ UM{dÇ ÇÐÅ
:éèU WKL*Ç WLOIÇ æÐÅ ¬(¥´°) WzU*Ç v 5FÑÃ
°[´ X ÑèÏ ±°
ÑèÏ ¶[¶· =
°[´-±
: ϪϳϠϋ ˯ΎϧΑ
‫صورة إ‬
ÑèÏ ±°[°° wzb*Ç q bÇ
¶[¶· ë
WKL*Ç WLOIÇ : ÇbzÇÒ
‫لك‬
‫تروني‬
ÑèÏ ±¶[¶· WdCK l{U)Ç q bÇ
¶[¶· ¥´° äbF0 .Ù.å.Ì v q bÇ VzÇd{ : Uë BU
‫ة ال يع‬
ÑèÏ ±°[°° VzÇdCÇ rB bF äèUI*Ç q Ï
W{u*Ç WIdDU äèUILK éuM Ç q bÇ ÈU s W&UMÇ WOdCÇ dzU )Ç bF
‫تد بها‬
.WOUHU ÉÏÑÇuÇ äèUI*Ç âuI s o (Êbè æÅ) çÃ

‫تداول‬
²±¹ ²°²² WM
dÇ Ébd'Ç
Combining the rst and last equations above.
Provisional income X Tax Rate

Grossed-up Value = ˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰˰
1 - Tax Rate
Where the tax rate is expressed as a decimal.

The above computations are illustrated by the following numerical
example. Assuming that the Provisional Income is $10 and the A.R.E.
Income Tax rate is forty percent (40%), then the Grossed-up Value is
equal to:
$ 10 X 0.4 = $ 6.67
1 - 0.4
Therefore:
‫صورة إ‬
Provisional income $10.00
Plus Grossed-up Value 6.67
Taxable Income $16.67 ‫لك‬
‫تروني‬
Less: A.R.E. Income Taxes at 40% 6.67
CONTRACTOR’s Income after taxes $ 10.00
‫ة ال يع‬
Tax losses resulting from calculating CONTRACTOR's annual
income in the manner described above (if any) shall be considered as
‫تد بها‬
a right to CONTRACTOR stated in the Agreement.

‫تداول‬
‫‪²°²² WM
dÇ Ébd'Ç‬‬ ‫‪²²°‬‬
‫تروني‬
‫ة ال يع‬
‫تد بها‬
‫تداول‬
‫‪²²±‬‬ ‫‪²°²² WM
dÇ Ébd'Ç‬‬
‫تروني‬
‫ة ال يع‬
‫تد بها‬
‫تداول‬
‫طبعت بالهيئة العامة لشئون املطابع األميرية‬
‫رئيس مجلس اإلدارة‬
‫صورة إ‬
‫محاسب ‪ /‬أشرف إمام عبد السالم‬
‫رقم اإليداع بدار الكتب ‪ 65‬لسنة ‪2023‬‬
‫‪259 - 2023/5/18 - 2022/2602 9‬‬ ‫لك‬
‫تروني‬
‫ة ال يع‬
‫تد بها‬
‫ل‬‫عند ا‬
‫تداول‬

الجريدة الرسمية

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WàM Ç àà ±´´´ WM

vè_Ç éÏUL ³° v ÑÏUBÇ µ± ÏbàààFÇ

áëØ°üdG ºbQ ¿Gƒæ©dG IOÉŸG

±³´ ............................ ÑÇd{_Ç s WOu *Ç ±µ

±³¶ .. WOdFÇ dB WÑuNL ÏÇdÃ VÑbè åÇb

±´° .................................... bIFÇ æÒÇu ±¹

±´´ ........................................ äÒUMÇ ²±

áëØ°üdG ºbQ ©¦äÌ× Â

Ù ¨×ó ìÏÌ ÎôÛ

±¸° ............. ÊUOKLFU WLzUIÇ WdAÇ fO

V Mandatory and Voluntary Relinquishments .................. 63

XIV Records, Reports and Inspection .................................. 131

of Egypt Personnel ........................................................ 137

XIX Stabilization ................................................................. 141

XXI Assignment ................................................................... 145

XXII Breach of Agreement and Power to Cancel ...................... 149

Material ................................................................. 157

ANNEXES TO THE CONCESSION AGREEMENT ‫لك‬

Annex "D" Charter of Operating Company ..................................... 181

Annex "E" Accounting Procedure .................................................... 189

2022 áæ°ùd 169 ºbQ ¿ƒfÉb

ϫ ˺˽˽˽ Δϧγ ϰϟϭϷ΍ ϯΩΎϣΟ ˼˹ ϰϓ ΔϳέϭϬϣΟϟ΍ ΔγΎ΋έΑ έΩλ

≈°ù«°ùdG ìÉàØdG óÑY

dB WÑuNL ÑUL

.("äèUI*Ç" èÃ "ubÇ" vK ULO UNOK oKDè)

.Ébb'Ç ÉdUIÇ – fU)Ç

CONCESSION AGREEMENT FOR PETROLEUM

No. 72-2017 organized and existing under the laws of

(hereinafter referred to as "ENPEDCO" or as "CONTRACTOR").

WONÇ qOL% èÃ WUD æèÏ XIHÃ vÇ ÊUèdB*Ç lOL qL áu

Vu0 XdÃ vÇè WIDM*U WU)Ç ÊU

from the NSPO, guaranteeing the obligation of the Company

Company (CONTRACTOR) to sign the Agreement, after the relevant

` *Ç äULÃ s UdOè éu'Çè vIeOuO'Çè vuuO'Ç ` *Ç äULÃ qLA "YÇ" (Ã)

ÈuIÇ dHè WOuuO'Ç ÊUIDK ÊÇÑU Ç ÁÇdÅè ÊUMOFÇ ÌÇd

.YÇ ÊUOKLF åUOIÇ

5- In case a Commercial Discovery is established in the Area, the Company

(a) "Exploration" shall include such geological, geophysical, aerial and

tests, holes for the discovery of Petroleum or the appraisal of Petroleum

therefore, all as may be contained in the approved Work Programs and

ZÇd oè WDA_Çè ÊUOKLFÇ WU ¬dB(Ç fOè äU*Ç qO

.nJ*Çè dDI*Ç qLA dOFÇ Çcè .WFd*Ç WuÇ vK

lease separators or which is extracted from the Gas or casing head

(60O F) and atmospheric pressure of 14.65 PSIA. Such term includes

æuJè .pÐ á vK WONÇ XIÇè ÇÐÅ Å åuOÇ v ÒUGÇ s WO

(f) "LPG" means Liqueed Petroleum Gas, which is a mixture composed

and veried by EGPC, is found to be capable of producing at the

cubic feet of Gas per day (MMSCFD) unless otherwise agreed by

date on which such well is tested and completed according to the

.WOdFÇ dB WÑuNL UUMF ".Ù.å.Ì" (é)

(j) "A.R.E." means ARAB REPUBLIC OF EGYPT.

CONTRACTOR is comprised of more than one company,

System where possible or with the existing boundaries of the Area

ÑU Ç `{u dÃ èÃ (±) ÉbÇè WM

.WOLMÇ bI ÊUUD q ÇÏ áUAJ

the selected development concept required to deliver life of eld

Plan outlines the activities to be conducted during the phases of

.tOK oH*Ç aÑUÇ v ZM*Ç rOK  WOU WM

ÊUuKF*Çè ÊUUOÇ q rOK è äÏUè l qUFÇè åÇb

(x) "Development Work Program" means those planed physical multi-

produced from the Concession Agreement Area starting from the

¬WàààààOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (´[°°°[°°°)

Ë WààGUÇ WOè_Ç YàÇ ÉdH WOUHÇ çc v ÉÏÑÇuÇ YÇ

ÉÏULK Uë Iè ÊÇuM

WàM Ç àà ±´´´ WM

vè_Ç éÏUL ³° v ÑÏUBÇ µ± ÏbàààFÇ

±³´ ............................ ÑÇd{_Ç s WOu *Ç ±µ

±³¶ .. WOdFÇ dB WÑuNL ÏÇdÃ VÑbè åÇb

±´° .................................... bIFÇ æÒÇu ±¹

±´´ ........................................ äÒUMÇ ²±

áëØ°üdG ºbQ ©¦äÌ× Â

Ù¨×ó ìÏÌ ÎôÛ

±¸° ............. ÊUOKLFU WLzUIÇ WdAÇ fO

dB WÑuNL ÑUL

.("äèUI*Ç" èÃ "ubÇ" vK ULO UNOK oKDè)

.Ébb'Ç ÉdUIÇ – fU)Ç

WONÇ qOL% èÃ WUD æèÏ XIHÃ vÇ ÊUèdB*Ç lOL qL áu

Vu0 XdÃ vÇè WIDM*U WU)Ç ÊU

` Ç äULÃ s UdOè éu'Çè vIeOuO'Çè vuuO'Ç ` Ç äULÃ qLA "YÇ" (Ã)

ÈuIÇ dHè WOuuO'Ç ÊUIDK ÊÇÑU Ç ÁÇdÅè ÊUMOFÇ ÌÇd

.YÇ ÊUOKLF åUOIÇ

ZÇd oè WDA_Çè ÊUOKLFÇ WU ¬dB(Ç fOè äU*Ç qO

.nJÇè dDIÇ qLA dOFÇ Çcè .WFd*Ç WuÇ vK

æuJè .pÐ á vK WONÇ XIÇè ÇÐÅ Å åuOÇ v ÒUGÇ s WO

.WOdFÇ dB WÑuNL UUMF ".Ù.å.Ì" (é)

ÑU Ç `{u dÃ èÃ (±) ÉbÇè WM

.WOLMÇ bI ÊUUD q ÇÏ áUAJ

.tOK oHÇ aÑUÇ v ZMÇ rOK WOU WM

ÊUuKF*Çè ÊUUOÇ q rOK è äÏUè l qUFÇè åÇb

¬WàààààOJd_Ç Éb*Ç ÊUuÇ ÊÇÑèÏ s ÑèÏ (´[°°°[°°°)

Ë WààGUÇ WOè_Ç YàÇ ÉdH WOUHÇ çc v ÉÏÑÇuÇ YÇ

ÉÏULK Uë Iè ÊÇuM

UNbLÇè UNFÏè ÊUOKLFÇ vK UNKOL äèUI*Ç åU vÇ YÇ

ÊUI bOL o(Ç WONK vDF ÈUD .bI äèUILK o

YÇ Éd WUN ÒèU Éb v tU

.pÐ á vK bbU

ë (±³) dA W ÁUCIÇ bF èÃ ¬ÒUGK èÃ XeK éÑUÇ áUAU

sdAè W L ÁUCIÇ bF èÃ ¬"XeK WÑU& Çd"

ë äèUI*Ç çdF r d äULÅ bF ÇdN

ÑU æÃ ÑUD Ç pÐ t

.WIDM*Ç q ÇÏ d Â æUJ v qI éÑU& ÒU èÃ XÒ áUAÇ

ÒUGK èÃ XeK ÁÇu

¬éd Ã WOuU ÊÇÁÇdÅ WÃ ÐUÇ æèÏ W

.ÊUèdB èÃ ÊUIH èÃ ÊUCuF éQ WONÇ vK

èÃ) ÒUGK éÑU& áUAÇ ÓU

.XeÇ WOLM bIF äèdÇ

.ÒUGÇ pÐ æQA bb WOLM bI VKD

WONÇ WIÇu0 Uë MÑ æuJè ¬WOMFÇ WÏUBÇ ÊÇÑUÇè äèUIÇ ÊUÇeÇè

WOLMÇ WD cOHM ÊUOKLFU WLzUIÇ WdAÇ ä s äèUI*Ç åeK r ÇÐÅè áÇd _Ç

bI v ÙUD qè .XeÇ vK f

.(pÐ á vK WONÇ oÇu rU) tOUF tOÅ ÑUA*Ç

s XeÇ WOLM ÏuIF WOLMÇ ÊUUD WFÇd0 ÊÇuM

.WFU Ç ÉÏUÇ ÕuBM Uë Iè äèUIÇè WONÇ

dUbÇ .bIè p è WdCÇ jÑè WOdCÇ ÊÇÑÇdÇ .bI h ULO

ÊUDK Ç o s æuJè WOdCÇ ÊÇÑÇdÇ ÏÇbÅ s ë u äèUI*Ç æuJ -²