HPCL eyes 30% equity in Egyptian E&P blocks

Sanjay Jog
Posted: 2008-07-04 23:37:37+05:30 IST
Updated: Jul 04, 2008 at 2337 hrs IST

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Mumbai, Jul 3: Further, the cost recovery and production sharing gas price will be agreed upon between contractor and Ganope after the commercial discovery and before converting an area to a development lease (s). Except gas for export (LNG) and pipelines where production sharing gas price will be valued at net back price.

GGanope has made it clear that during the exploration period an exploration advisory committee comprising equal number of representatives from contractor and Ganope will discuss and recommend the proposed work programme and budget. The contractor will have to give preference to the use of Egyptian goods and services subject to quality, availability and competitive pricing....