‫صورة إ‬

‫لك‬
‫تروني‬
‫ة ال يع‬

äÉ``¡«æL 10 øªãdG
‫تد بها‬

WàM Ç ààà ±´´³ WM

åd;Ç · v ÑÏUBÇ ³² ÏbàààFÇ
‫عند ا‬

æu Çè WFÇdÇ ( å ²°²± WM

fD Ã ±µ) oÇu*Ç (Ì) ÑdJ
‫ل‬
‫تداول‬
 ³ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

2021 áæ°ùd 143 ºbQ ¿ƒfÉb

ΔϳϧΩόϣϟ΍ ΓϭέΛϟ΍ϭ ϝϭέΗΑϟ΍ έϳίϭϟ ιϳΧέΗϟΎΑ
ϝϭέΗΑϠϟ ΔϣΎόϟ΍ Δϳέλϣϟ΍ Δ΋ϳϬϟ΍ ϊϣ ΩϗΎόΗϟ΍ ϰϓ
ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍ ϝϳΩόΗϟ ΩΗϣϳϟ ΕΑϳΟϳ· ϥϳΟέϧ· Δϛέηϭ
˻˹˹̂ Δϧγϟ ˼ ϡϗέ ϥϭϧΎϘϟΎΑ ϝΩόϣϟ΍ ˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ
ϝϳϧϟ΍ ΎΗϟΩΑ ΔϳέΣΑϟ΍ ϭϛΩ· ϝΎϣη ΔϘρϧϣ ϰϓ ϪϟϼϐΗγ΍ϭ ϝϭέΗΑϟ΍ ϥϋ ΙΣΑϠϟ
VFA« r
U
W——uNL'« fOz——
:çUÑbà bè ¬tB vŸÇ æuUIÇ ÈÇuMÇ fK Ñd
© vË_« ……œœU*« ®
äèdK WUFÇ WdB*Ç WONÇ l bUFÇ v WObF*Ç ÉèdÇè äèdÇ dÒu h dï
±³ rÑ æuUIÇ Vu0 ÉÑÏUBÇ åÇe™Ç WOUHÇ qbF bLO XOÅ 5dÅ Wdàààè

‫صورة إ‬
v tšG
Çè äèdÇ s YK ¬ ²°°¹ WMààà  ³ rÑ æuUIU äbF*Ç ±¹¹¸ WMààà 
. WIÇd*Ç WOUH™Ç åUJ_ UIë è pÐè ¬ qOMÇ Ub WdÇ uÏÅ äUL WIDM
© WOU« ……œœU*« ®
‫لك‬
‫تروني‬
¬ æuàààUIÇ Éuààà WàààIÇd*Ç WàààOUH™Ç vààà ÉÏÑÇuàààÇ ÊÇÁÇdàààÇè bàààÇuIK æuàààJ
. UN nU ldA éà åUJà s ÁUM
™U cHMè
‫ة ال يع‬
© WU« ……œœU*« ®
.çdA aÑU vUÇ åuOÇ s t qLFï è ¬WOL
dÇ Ébd'Ç v æuUIÇ Çc dAMï
‫تد بها‬

. UNMOÇu s æuUI cHMè ¬ WèbÇ -U æuUIÇ Çc rB

à ±´´³ WM
åd;Ç · v WÑuNL'Ç W
Uzd Ñb
‫عند ا‬

. ( å ²°²± WM
fD Ã ±µ oÇu*Ç )
‫ل‬
‫تداول‬

v O « ÕUH« b
 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ´

≈fÉãdG π``````````jó©àdG
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‘
ájôëÑdG ƒ`````````cOG ∫ɪ°T á≤£æe
π```````«ædG É```````àdóH
1998 áæ°ùd 13 ºbQ ¿ƒfÉ≤dG ÖLƒÃ IQOÉ°üdG
2009 áæ°ùd 3 ºbQ ¿ƒfÉ≤dÉH ∫ó©ŸG
ÚH
á«``Hô©dG ô``°üe ájQƒ``¡ªL
∫hô```àÑ∏d á`eÉ©dG ájô``°üŸG áÄ«¡dGh

‫صورة إ‬
óફd âÑ«éjEG ÚLôfEG ácô°Th
( "vUÇ qbFÇ âUHÇ " vK ULO tOK oKDè ) Çc vUÇ qbFÇ âUHÇ Ñd
: 5 ULO è WdF0 ²°-- WM
dN s

‫لك‬ åuOÇ v
‫تروني‬
UNK1è ("WuJ(Ç" èà ".Ù.å.Ì" vK ULO UNOK oKDè) WOdFÇ dB WÑuNL -± : ™èÃ
è »tHB WObF*Ç ÉèdÇè äèdÇ dÒè /bO Ç
‫ة ال يع‬
.ÉdUIÇ - dB WMb – deÇ bLà ÙÑU ñ :wuUIÇ dI*Ç
æuUIÇ VuLà XAà WOuU WOB vè ¬äèdK WUFÇ WdB*Ç WONÇ -²
‫تد بها‬

("WONÇ" vK ULO UNOK oKDè) qbF s tOK q ÏÃï U0 ±¹µ¸ WM  ±¶· rÑ
è »tHB WONK écOHMÇ fOzdÇ /bO Ç UNK1è
‫عند ا‬

.ÉdUIÇ – Ébb'Ç éÏUF*Ç – lÇdÇ dDAÇ ²·° ÙÑU :wuUIÇ dI*Ç

‫ل‬

(ϝϭ΃ ϑέρ)
‫تداول‬
 µ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

SECOND AMENDMENT AGREEMENT

OF
THE CONCESSION AGREEMENT
FOR PETROLEUM EXPLORATION AND EXPLOITATION
IN
NORTH IDKU OFFSHORE AREA
NILE DELTA
ISSUED BY VIRTUE OF LAW NO. 13 OF 1998
AS AMENDED BY VIRTUE OF LAW NO. 3 OF 2009
BETWEEN
THE ARAB REPUBLIC OF EGYPT
AND
THE EGYPTIAN GENERAL PETROLEUM CORPORATION
AND
ENERGEAN EGYPT LIMITED

‫صورة إ‬
This Second Amendment Agreement (hereinafter referred to as the ““Second
Amendment Agreement””) made and entered on this day of, 20--,
by and between:

‫لك‬
First: 1- The ARAB REPUBLIC OF EGYPT (hereinafter referred to
‫تروني‬
variously as ““A.R.E.”” or as the ““GOVERNMENT””), represented
by the Minister of Petroleum and Mineral Resources, in his
‫ة ال يع‬
capacity; and
Legal Headquarters: 1A Ahmed Al Zomor St., Nasr City, Cairo.
‫تد بها‬

2 - The EGYPTIAN GENERAL PETROLEUM CORPORATION,

a legal entity created by Law No. 167 of 1958 as amended
(hereinafter referred to as "EGPC") represented by the Chief
‫عند ا‬

Executive Ofcer, in his capacity.

Legal Headquarters: 270 St., Part 4, New Maadi, Cairo.
‫ل‬
‫تداول‬

(First Party)
 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ¶

Uë I WààLzUè W
R ÉÏèb WOu  ÊÇÐ Wd vè bLO XOÅ 5dÅ Wd : UOU
UNK1è ("äèUI*Ç" èà "XOÅ 5dÅ" vK ULO UàNOK oKDè) Õd 5ÇuI
.ou vL
Ñ ÈUD tM ÈuM s èà WdAÇ fOzÑ /bO Ç
.Ébb'Ç ÉdUIÇ ¬fU)Ç lLÇ ¬dM
vO
¬±· rÑ ãuK : vuUIÇ dI*Ç
(ϥΎΛ ϑέρ )
ó````````````````````````«`¡“
WM  ³ rÑ æuUIU qbF s tOK q Ïà U0 ±¹¹¸ WM  ±³ rÑ æuUIK Uë Iè ¬ tÅ YO
WdÇ uÏÇ äUL WIDM v tšG
Çè äèdÇ s YK åÇeÇ WOUHÇ XdÇ ²°°¹
Wd ¬ äèdK WUFÇ WdB*Ç WONÇ ¬ WOdFÇ dB WÑuNL 5 ULOè WdF0 ¬ qOMÇ Ub
Wdè éÏ v äÇ ÒUGÇè XeK qOMÇ äu Wdè ¬ gÇ v åà v åuOèd uÏÇ fJM1Ï
±¹¹¸ WM  ±³ rÑ æuUIÇ vK oKDè) ¬ bLO ( äUuOU fÇd) ÓU J æuOu
è » (“åÇe™Ç WOUHÇ” vK ULO ²°°¹ WM  ³ rÑ æuUIU äbF*Ç

‫صورة إ‬
XeK WOU*_Ç WdAÇ vÅ UNL
Ç dOG b gÇ v åà v rOèd uÏÇ fJM1Ï ¬ æÅ YO
è ¬("vuO") gÇ .v .åà .v uÏÇ dB ÒUGÇè

‫لك‬
q sààà XààÒUààMàà bààà éÏ vààà äà ÒUàààGàààÇè XààeààKà  qààOààMààÇ äuààà Wààdàà ¬ æÅ YààOàà
‫تروني‬
âuààIàà(Çè `ààUààBàà*Ç sàà ÙUààAàà*Ç vààKàà (¥²°) WààzUàà*Ç vàà sààdààAà  mààUààààÇ UNOB
‫ة ال يع‬
vààÅ dààcààÇ WààHààUàà
åÇeàààààà™Ç WààOààUààHààÇ vàà ÊUàààÇeàààààà™Çè ÊUààààààÇuàààÇè ÊÇÒUàààOàààààà™Çè
aàààààÑUàààà RWE-DEA Aktiengesellschaft fur Mineraloel und Chemie
è ¬²°°±/²/±²
‫تد بها‬

XÃ b dcÇ WHU

åÇe™Ç WOUHÇ v äèUILK WuJ*Ç áÇd _Ç hB ¬æÅ YO
‫عند ا‬

è ¬(¥²°) RWE-DEAè (¥³°) ÓU J æuOuè (¥µ°) vuO :wŸU

uOKÏ ÑÃ vÅ UNL
Ç dOG b gÇ v åÇ v uÏÇ XOÇ ÒU bÇ qèà æUdO ¬æÅ YO
‫ل‬
‫تداول‬

è ¬gÇ v åÇ v uÏÇ UÏ éÇ

 · ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

Second: ENERGEAN EGYPT LIMITED, a Limited Liability Company

organized and existing under the laws of Cyprus (hereinafter
referred to as ““ENERGEAN EGYPT”” or ““CONTRACTOR””)
represented by the President of the Company or a concerned
delegate supported with a power of attorney.
Legal Headquarters: Block# 17, City Center 5th settlement, New
Cairo.
(Second Party)
PREAMBLE
WHEREAS, pursuant to Law No. 13 of 1998, as amended by Law No. 3 of
2009, a Concession Agreement for Petroleum Exploration and Exploitation
in NORTH IDKU OFFSHORE AREA, NILE DELTA was entered into
by and between the GOVERNMENT of the ARAB REPUBLIC OF
EGYPT, the EGYPTIAN GENERAL PETROLEUM CORPORATION,
DEMINEX IDKU PETROLEUM GmbH, MOL NILE OIL & GAS Ltd.

‫صورة إ‬
and UNION TEXAS (TRANSNATIONAL) LIMITED (Law No. 13 of
1998, as amended by Law No. 3 of 2009 is hereinafter referred to as the
““Concession Agreement””); and

‫لك‬
WHEREAS, Deminex Idku Petroleum GmbH has changed its name to
‫تروني‬
German Oil and Gas Egypt Idku GmbH (““GEOGE””); and
WHEREAS, MOL Nile Oil & Gas Ltd., has assigned its entire undivided
‫ة ال يع‬
twenty percent (20%) of the interests, rights, privileges, duties and
obligations in the aforementioned Concession Agreement to RWE-DEA
Aktiengesellschaft fur Mineraloel und Chemie dated 12/2/2001; and
‫تد بها‬

WHEREAS, the interests of the Parties constituting the CONTRACTOR

under the aforementioned Concession Agreement has become as follows:
‫عند ا‬

GEOGE (50%), Union Texas (30%) and RWE-DEA (20%); and

WHEREAS, German Oil and Gas Egypt Idku GmbH has changed its name
‫ل‬
‫تداول‬

to RWE Dea Idku GmbH; and

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ¸

RWE-DEA Aktiengesellschaft fur Mineraloel und Chemie ¬æÅ YO

è ¬v tÅ UÏ éà uOKÏ Ñà vÅ UNL
Ç dOG b
æuš çÑb VOB s XÒUM b bLO (äUuOU fÇd) ÓU J æuOu ¬æÅ YO
UNUÇèè UNÇÒUOÇè UN(UBè UNuI lOL q1 écÇè ÙUA*Ç vK (¥³°) WzU*Ç v
æUOMdb æd à ÓU J æuOu WFUÇ UNd vÅ åÇe™Ç WOUHÇ v UNUÇeÇè
è ¬bLO
æd à ÓU J æuOuè bLO (äUuOU fÇd) ÓU J æuOu s š ¬æÅ YO
äUuOUdÇ ÓU J æuOu WdA qUJU æUFUè æUuK2 æUd UL bLO æUOMdb
è ¬sAÑuÑu
ÓU J æuOu Wd rN
à lOL ÁÇdA XU b .pÇ UJdà v v Wd ¬æÅ YO
(äUuOU fÇd) ÓU J æuOu s š Xà bI tOKè ¬sAÑuÑu äUuOUdÇ
v v WdA qUJU 5FUè 5uK2 bLO æUOMdb æd à ÓU J æuOuè bLO
è ¬.pÇ UJdÃ

‫صورة إ‬
vàÅ UàNFO rà bà bàLO æUàOMdb ædà Ç ÓUà J æuàOu Wàd ràN
à làOL ¬æÅ YO
è ¬.tÇ .ÓÇ uàJdO Wàd

‫لك‬
uJdO vÅ bLO æUOMdb æd Ç ÓU J æuOu Wd r
Ç dOOG - b ¬tÅ YO
‫تروني‬
è ¬åÇe™Ç WOUHÇ v bLO æUOMdb æd Ç
WzU*Ç v æuš çÑb VOB s XÒUM b bLO æUOMdbO æd Ç uJdO ¬æÅ YO
‫ة ال يع‬
UNUÇeÇè UNUÇèè UNÇÒUOÇè UN(UBè UNuI lOL q1 écÇè ÙUA*Ç vK (¥³°)
è ¬²°°¸/³/² aÑU v tÇ UÏ éÇ uOKÏ Ñà Wd vÅ åÇe™Ç WOUHÇ v
‫تد بها‬

uOKÏ Ñà :wŸU Xà b åÇe™Ç WOUHÇ v äèUILK WuJ*Ç áÇd _Ç hB ¬æÅ YO
è ¬(¥µ°) v tÇ UÏ éÇ uOKÏ ÑÇ è (¥µ°) gÇ v åÇ v uÏÇ UÏ éÇ
‫عند ا‬

è ¬v tÇ qèÏÑÅ tOAèÏ UÏ vÅ v tÇ UÏ éÇ uOKÇÏ Ñà Wd r
Ç dOOG - b ¬tÅ YO
v uÏÇ UÏ vÅ gà v åà v uÏÇ UÏ éÅ uOKÇÏ Ñà Wd r
Ç dOOG - b ¬tÅ YO
‫ل‬
‫تداول‬

è ¬gà v åÇ
 ¹ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

WHEREAS, RWE-DEA Aktiengesellschaft fur Mineraloel und Chemie

has changed its name to RWE Dea AG; and
WHEREAS, Union Texas (Transnational) Limited has assigned an
undivided thirty percent (30%) interest which represents all its rights,
interests, privileges, duties and obligations in the Concession Agreement
to its afliate company Union Texas Eastern Mediterranean Limited; and
WHEREAS, both Union Texas (Transnational) Limited and Union Texas
Eastern Mediterranean Limited are wholly owned subsidiaries of Union
Texas International Corporation; and
WHEREAS, BP America Inc. has purchased all the stocks of Union Texas
International Corporation, therefore, Union Texas (Transnational) Limited
and Union Texas Eastern Mediterranean Limited became wholly owned
subsidiaries of BP America Inc.; and
WHEREAS, all shares of Union Texas Eastern Mediterranean Limited
have been sold to Perenco S.A.; and

‫صورة إ‬
WHEREAS, the name of Union Texas Eastern Mediterranean Limited has
been changed to Perenco Eastern Mediterranean Limited in the Concession
Agreement; and

‫لك‬
‫تروني‬
WHEREAS, Perenco Eastern Mediterranean Limited has assigned an
undivided thirty percent (30%) interest which represents all its rights,
interests, privileges, duties and obligations in the Concession Agreement
‫ة ال يع‬
to RWE Dea AG dated 2/3/2008; and
WHEREAS, the interest of the parties constituting the CONTRACTOR in
‫تد بها‬

the Concession Agreement has become as follows: RWE Dea Idku GmbH
(50%) and RWE Dea AG (50%); and
WHEREAS, the name of RWE Dea AG has been changed to DEA Deutsche
‫عند ا‬

Erdoel AG; and

WHEREAS, the name of RWE Dea Idku GmbH has been changed to DEA
‫ل‬
‫تداول‬

Idku GmbH; and

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ±°

lO WOUHÇè uÏÇ äUL WOLM bI Udà b WONÇè uÏÇ UÏè v tÇ UÏ s š ¬æÅ YO
è ¬(ÒUGÇ lO WOUHÇ) ²°°¸ ÓÑU ²³ v WdÇ uÏÇ äUL WIDM ÒU
WOUHÇ v ULNUÇeÇè ULNuI WU s ™ÒUM b uÏÇ UÏè v tÇ UÏ s š ¬æÅ YO
è ¬æu ÏÇ vÅ ÒUGÇ lO
lOL s ™ÒUM b UU gà v åÇ v uÏÇ UÏè v tÇ qèÏÑÅ tOAèÏ UÏ ¬æÅ YO
WzU çÑb VOB q1 écÇè ULNUÇeÇè ULNUÇèè ULNÇÒUOÇè ULN(UBè ULNuI
Wd vÅ åÇe™Ç WOUHÇ v äèUI*Ç ÊUÇeÇè âuI s ÙUA*Ç vK (¥±°°) WzU*Ç v
è ¬²°±·/¹/¹ aÑU .tÅ .v .ÓÅ äUuOUdÇ æu ÏÅ
WM  ±³ rÑ æuUIÇ Vu0 XÒUM b .tÅ .w .ÓÅ äUuOUdÇ æu ÏÅ Wd ¬æÅ YO
(¥±°°) WzU*Ç v WzU çÑb VOB s ²°°¹ WM  ³ rÑ æuUIU äbF*Çè ±¹¹¸
æu ÏÅ Wd” WFUÇ UNd vÅ åÇe™Ç WOUHÇ v UNUÇeÇè UNuI s ÙUA*Ç vK

‫صورة إ‬
è ¬²°²°/¹/³° aÑU “tÅ v ÓÅ v bÇ éÅ äUuOUdÅ
UNuI lOL s XÒUM b tÅ .w .ÓÅ v bÇ éÅ äUuOUdÅ æu ÏÅ Wd ¬æÅ YO

‫لك‬
(¥±°°) WzU*Ç v WzU çÑb VOB q9 vÇè UNUÇeÇè UNUÇèè UNÇÒUOÇè UN(UBè
‫تروني‬
XOÅ 5dÅ vÅ dcÇ WHU
åÇe™Ç WOUHÇ v äèUI*Ç ÊUÇeÇè âuI s ÙUA*Ç vK
è ¬²°²±/±/²´ v bLO
‫ة ال يع‬
aÑU ÒUGÇ dOF  WM' s ÑÏUBÇ ÑÇdIÇ vK oÇè b WONK écOHMÇ fK*Ç ¬æÅ YO
ÊUOu Çcè ¬ WdÇ uÏÇ äUL åÇeÇ WIDM0 ÕU)Ç ÒUGÇ dOF  æQA ²°±¹/µ/±³
‫تد بها‬

è ¬²°²°/±°/´ aÑU äèdK WUFÇ WdB*Ç WONU ʚbFÇ WM'

è ¬²°²°/±±/²´ aÑU pÐ vK oÇè b WONÇ ÉÑÇÏÅ fK ¬æÅ YO
‫عند ا‬

: Ê u U vK WOUH™Ç áÇd à oHÇ bI ¬pc

‫ل‬

ë oU Ç bONLÇ dFè

.tUJ_ Uë Lè šë LJè Çc vUÇ qbFÇ âUHÇ s Ãe ™ ÇÁe
‫تداول‬
 ±± ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

WHEREAS, DEA AG, DEA Idku and EGPC have entered into the
North Idku Development Lease and North Idku Offshore Area Gas Sales
Agreement dated 23 March 2008 (GSA); and
WHEREAS, DEA AG and DEA Idku has assigned all their rights and
obligations in the GSA to Edison; and
WHEREAS, DEA Deutsche Erdoel AG and DEA Idku GmbH has assigned
all their rights, interests, privileges, duties and obligations which represents
an undivided one hundred percent (100%) interest of CONTRACTOR’’s
rights and obligations in the Concession Agreement to Edison International
S.p.A. on 9/9/2017; and
WHEREAS, Edison International S.p.A. has assigned, under Law No.13
of 1998 as amended by Law No. 3 of 2009, all its rights and obligations
which represents an undivided one hundred percent (100%) interest, to its
Afliate ““Edison International E&P S.p.A.”” on 30/9/2020; and

‫صورة إ‬
WHEREAS, Edison International E&P S.p.A. has assigned all its rights,
interests, privileges, duties and obligations which represents an undivided
one hundred percent (100%) interest of CONTRACTOR’’s rights and

‫لك‬
obligations in the above mentioned Concession Agreement to ““Energean
Egypt Limited”” on 24/1/2021; and
‫تروني‬
WHEREAS, EGPC’’S Executive Board of Directors has approved on the
‫ة ال يع‬
Gas Price Committee’’s decision concerning the Gas Price of North Idku
Offshore Concession Area dated 13/5/2019 and on the recommendations
of EGPC’’s Amendments Committee dated 4/10/2020; and
‫تد بها‬

WHEREAS, EGPC’’s Board of Directors has approved thereupon on

24/11/2020; and
‫عند ا‬

Now therefore, the Parties hereto agree as follows:

The previous preamble to this Second Amendment Agreement is hereby
‫ل‬
‫تداول‬

made part hereof, complemented and integrated to its provisions.

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ±²

≈````dhC’G IOÉ``````ŸG
WOUHÇ v WdF*Ç ÊÇÑUFÇè ÊULKJK æuJ ¬wK ULO pc Uë š Ïb U Çb ULO
.Çc vUÇ qbFÇ âUHÇ v vMF*Ç ÊÇÐ åÇe™Ç
á````«fÉãdG IOÉ``````ŸG
ΔϳϗΎϔΗ΍ ϥϣ "ΕΎϔϳέόΗϟ΍ " ϰϟϭϷ΍ ΓΩΎϣϟ΍ ϥϣ ( έ ) ϭ ( ί ) ϭ ( Ω ) Ε΍έϘϔϟ΍ ϑΫΣΗ -
-:ϰϠϳ ΎϣΑ ϝΩΑΗγΗϭ ˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍
s ZM æudèÑbO éà çUMF "XeÇ" èà " åU)Ç XeÇ" èà "qzU Ç åU)Ç XeÇ " (Ï)
écÇ èà ÒUGÇ qB l{Çu v èà dÇ ÓÃÑ bM WuO Ç WU v æuJè WIDM*Ç
çc bÇuè .qUF*Ç bà v ÊUu OIÇ s oKDM*Ç ÒUGÇ èà ÒUGÇ s hK 
éèU  éu jG{è (á ç ¶°) XONdN WÑÏ 5
ÉÑÇdààà WÑÏ bM WKzU Ç WU(Ç
. nJ*Çè dDI*Ç qLA dOFÇ Çcè . WFd*Ç WuÇ vK q Ñ ±´[¶¹¶
WOJd_Ç Éb*Ç ÊU™uÇ ÊUuU s UuU (´²) 5FÑÃè 5MÇ s æuJ "qOdÇ " (Ò)
éu jG{ X% (á 綰) XONdN WÑÏ 5
ÉÑÇd WÑÏ vK ™bF šzU
šO

‫صورة إ‬
.WFd*Ç WuÇ vK q ѱ´[¶¹¶ éèU 
(±) bÇè VFJ åb Áq* WҚÇ ÒUGÇ WOL vMF (SCF) "w
UOIÇ VFJ*Ç åbIÇ" (Ñ)

‫لك‬
WÑÏ bMè WFd*Ç WuÇ vàààààK q Ñ ±´[¶¹¶ éèU  éu jG{ bààààààM ÚÇdHÇ s
‫تروني‬
. (á ç ¶°) XONdN WÑÏ 5
ÉÑÇd
ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍ ϥϣ " ΕΎϔϳέόΗ " ϰϟϭϷ΍ ΓΩΎϣϟ΍ ΔϳΎϬϧ ϰϓ ϰϠϳ Ύϣ ϑΎοϳ
‫ة ال يع‬
: ˻˹˹̂ Δϧγϟ ˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ
ÉÑÇd WÑÏ ld WҚÇ WUDÇ s WOL vMF “BTU" "WOUDdÇ WÑÇd(Ç ÉbuÇ" (Ë)
‫تد بها‬

5
s (á ç ±) ÉbÇè XONdN WÑÏ ÑÇbI0 WOIMÇ çUO*Ç s (±) ÇbÇè ë šë Ñ
XU jG{ bM XONdN WÑÏ (á ç ¶±) 5
è bÇè vÅ XONdN WÑÏ (á ç ¶°)
‫عند ا‬

.WFd*Ç WuÇ vK q Ñ ±´[¶¹¶ çÑÇbI

WuJ(Ç VU s Çc vUÇ qbFÇ âUHÇ h lOu aÑU vMF "æUd Ç aÑU" (Î)
‫ل‬
‫تداول‬

.Çc vUÇ qbFÇ âUHU ÕU)Ç æuUIÇ Ñèb bF äèUI*Çè WONÇè
 ±³ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

ARTICLE I
Except as otherwise specied hereunder, the words and expressions dened
in the Concession Agreement shall have the same meaning in this Second
Amendment Agreement.
ARTICLE II
Paragraphs ““d”” , ““g”” and ““t”” of Article I ““Denitions”” of the
Concession Agreement issued by virtue of Law No. 13 of 1998 shall be
deleted and replaced by the following:-
(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
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
(60oF) and atmospheric pressure of 14.696 PSIA. Such term includes
distillate and condensate.
(g) A "Barrel" shall consist of forty-two (42) United States gallons, liquid

‫صورة إ‬
measure, corrected to a temperature of sixty degrees Fahrenheit (60oF)
at atmospheric pressure of 14.696 PSIA.
(t) ““Standard Cubic Foot”” (SCF) is the amount of Gas necessary to ll

‫لك‬
one (1) cubic foot of space at atmospheric pressure of 14.696 PSIA at
‫تروني‬
a base temperature of sixty degrees Fahrenheit (60oF).
Add the following at the end of Article I ““DEFINITIONS”” of the
‫ة ال يع‬
Concession Agreement issued by virtue of Law No. 3 of 2009:
(w) ““BTU”” British Thermal Unit means the amount of energy required
to raise the temperature of one (1) pound of pure water by one (1° F)
‫تد بها‬

degree Fahrenheit from sixty degrees Fahrenheit (60° F) to sixty one

degrees Fahrenheit (61oF) at a constant pressure of 14.696 PSIA.
‫عند ا‬

(x) ““Effective Date”” means the date on which the text of this Second
Amendment Agreement is signed by the GOVERNMENT, EGPC and
CONTRACTOR, after the relevant Law of this Second Amendment
‫ل‬
‫تداول‬

Agreement is issued.
 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ±´

á`````ãdÉãdG IOÉ``````ŸG
΢ϧϣ " ΔΛϟΎΛϟ΍ ΓΩΎϣϟ΍ ϥϣ " ΔϳϣϧΗ ΩϘϋ ϰϟ΍ ϝϳϭΣΗϟ΍ " (Ω) ϥϣ -˼ ΓέϘϔϟ΍ ϑΫΣΗ -
˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍ ϥϣ "ΓΩϣϟ΍ϭ ϕϭϘΣϟ΍
-:ϰϠϳ ΎϣΑ ϝΩΑΗγΗϭ
-: ϰϠϳ Ύϣϛ ΔϳϣϧΗ ΩϘϋ ϝϛϟ ΔϳϣϧΗϟ΍ ΓέΗϓ ϥϭϛΗ - ˼
s WM
(²° ) sdA WOLMÇ Éd æuJ XeK éÑUÇ áUA™U oKF ULO ( Ãà )
5 u UL ) éÑUO ™Ç ÏÇb™Ç Éd UNOÅ UUC éÑUÇ áUA™Ç pÐ aÑU
sJ1 èà qLF è WOLMÇ bI fH v ÒU áUAÇ WU v tà ×dAè ( çUÏÃ
éÑU& áUAÇ qu% VI pÐè WOUH™Ç çc Vu0 dbBK èà UOë K tULF
Ç
ÒUè ÒUGÇ ÇcN W MU jI bL
WOLMÇ bI Éd æS ¬ WOLM bI vÅ XeK
qJ v u écÇ åU)Ç XeÇè ÒUGÇ pÐ s hK *Ç “LPG" äU *Ç äèdÇ
ÊUOLJ rOK  äèà aÑU s WM
(²° ) sdA Éb* ÒUGÇ pÐ l ZM nJ
5 u UL ) éÑUO ™Ç ÏÇb™Ç Éd UNOÅ Uë UC dbBK èà UOë K ÒUGÇ s

‫صورة إ‬
s XeK éÑU& áUAÇ vK f
R*Ç Çc WOLMÇ bI qà be ™Ã ×dAè ( çUÏÃ
.XeK éÑUÇ áUA™Ç Çc aÑU s WM
(³°) 5š
ë WONÇ äèUI*Ç dD
VKD åbIU Uë UD æuJ s tMJè ÒUGK áUAÇ éà s ÇÑu

‫لك‬
. ÒUGÇ pÐ æQA bb WOLM bI
‫تروني‬
aÑU s WM
(²°) sdA WOLMÇ Éd æuJ ÒUGK éÑU& áUAU oKF ULO (È È)
éÑUO ™Ç ÏÇb™Ç ÉdH WU{™U dbBK èà Uë OK ÒUGÇ s ÊUOLJ rOK  äèÃ
‫ة ال يع‬
éÑU& áUAÇ qu% VIà ÇÐÅ U WU v tà WDd ( çUÏà 5 u UL )
s äèUI*Ç WB æS WOLMÇ bI fH v åU XÒ nAÇ æà WOLM bI vÅ ÒUGK
‫تد بها‬

" LPG " äU *Ç äèdÇ ÒU ÁUM

U ) WOLMÇ bI s ZM*Ç åU)Ç XeÇ pÐ
( ÒUGÇ l WM ÊUHJ qJ v u écÇ åU)Ç XeÇ èà ÒUGÇ s hK *Ç
‫عند ا‬

(²°) sdA ÁUCIÇ bM WONK WOK ÏuF áu

åU)Ç XeÇ pc VUB*Ç ÒUGÇè
éÑUO ™Ç ÏÇbà™Ç Édà vÅ WUàà{U åUàà)Ç XeÇ pÐ áUAÇ aÑU s WM

‫ل‬

. ( çUÏÃ 5 u UL )

‫تداول‬
 ±µ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

ARTICLE III
Article III ““GRANT OF RIGHTS AND TERM”” paragraph (iii) (d)
““Conversion to a Development Lease”” of the Concession Agreement
issued by virtue of Law No. 13 of 1998 shall be deleted and replaced
by the following:-
(iii) The Development period of each Development Lease shall be as
follows:
(aa) In respect of a Commercial Oil Discovery, twenty (20) years from
the date of such Commercial Discovery plus the Optional Extension
Period (as dened below) provided that, in the event that, subsequent
to the conversion of a Commercial Oil Discovery into a Development
Lease, Gas is discovered in the same 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, 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
the Optional Extension Period (as dened below) provided that the

‫صورة إ‬
duration of such Development Lease based on a Commercial Oil
Discovery may not be extended beyond thirty (30) years from the
date of such Commercial Oil Discovery.
CONTRACTOR shall immediately notify EGPC of any Gas
‫لك‬
‫تروني‬
Discovery but shall not be required to apply for a new Development
Lease in respect of such Gas.
(bb) In respect of a Commercial Gas Discovery, twenty (20) years from the
‫ة ال يع‬
date of rst deliveries of Gas locally or for export plus the Optional
Extension Period (as dened below) provided that, if subsequent to
the conversion of a Commercial Gas Discovery into a Development
‫تد بها‬

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
‫عند ا‬

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 date of such Crude Oil Discovery plus the Optional
‫ل‬
‫تداول‬

Extension Period (as dened below).

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ±¶

æà äU éQ Òu ™ ¬ çc åÇe™Ç WOUHÇ v pc Uš Ïd UL dEMÇ iG
WM
( ³° ) 5š vK ÒUGK éÑU& áUAÇ vK f
R*Ç WOLMÇ bI Éb be
.ÒUGK éÑUÇ áUA™Ç pÐ aÑU s
ë WONÇ äèUI*Ç dD
åbIU Uë UD æuJ s tMJè XeK áUAÇ éà s ÇÑu
. åU)Ç XeÇ ÇcN W MU bb WOLM bI VKD

vÇè ÊÇuM
(µ ) fL UNb Éd " éÑUO ™Ç ÏÇb™Ç Éd " dOF vMFè
WIU
dNÃ (¶) W
q WONÇ vÅ vU ÑUD Å vCI0 UÑUO Ç äèUILK Òu
. WOMF*Ç WM
(²° ) sdAFÇ Éb ÁUCIÇ aÑU

ϕϭϘΣϟ΍ ΢ϧϣ " ΔΛϟΎΛϟ΍ ΓΩΎϣϟ΍ ϥϣ (˰ϫ) ΓέϘϔϟ΍ ϥϣ ΔϳϧΎΛϟ΍ ΓέϘϔϟ΍ ΔϳΎϬϧ ϰϓ ϰϠϳ Ύϣ ϑΎοϳ -

-: ˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍ ϥϣ "ΓΩϣϟ΍ϭ

‫صورة إ‬
äèÇ aÑU s WOLMÇ bIF WOLMÇ ÊUUD WFÇd0 ÊÇuM
(´) lÑÃ q WONÇ åuI
dO èà ZM dO ÙUD éà s ÇÑu vKK pÐè ¬ dbBK èÇ UOK ÒUGK ÊULOK 

‫لك‬
‫تروني‬
.(WONÇ UNOK oÇu ÊUUDIÇ pK WOLM WD äèUI*Ç åbI r U ) ÌUÇ v ãÑUA

á``````©HGôdG IOÉ``````ŸG
‫ة ال يع‬
ϥϣ " ΔϳέΎϳΗΧϻ΍ϭ ΔϳέΎΑΟϹ΍ ΕΎϳϠΧΗϟ΍ " ΔγϣΎ˰Χϟ΍ ΓΩΎϣϟ΍ ΔϳΎϬϧ ϰϓ ϰϠϳ Ύϣ ϑΎοϳ -
‫تد بها‬

-: ˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍

WONÇ VK vK ÇÁUMè ¬åÇeÇ Éd ÁUCIÇ bM èà vKÇ Xè bM ¬äèUI*Ç vK V
‫عند ا‬

åÇe™Ç WOUHÇ s ¬ dA WMUÇ ÉÏU*Ç v WMO*Ç WOOÇ `zÇuKÇ lOL ÙUÇ s bQÇ
.WOd*Çè WuI*Ç WLOK Ç äèdÇ WUM rEM Uë Iè ¬çUÏà WFU Ç ÉÏU*Ç Vu0 WbF*Çè
‫ل‬
‫تداول‬
 ±· ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

Notwithstanding, anything to the contrary under this Concession

Agreement, the duration of a Development Lease based on a
Commercial Gas Discovery shall in no case exceed thirty (30) years
from the date of such Commercial Gas Discovery.
CONTRACTOR shall immediately notify EGPC of any Oil
Discovery but shall not be required to apply for a new Development
Lease in respect of such Crude Oil.
The "Optional Extension Period" shall mean a period of ve (5)
years which may be elected by CONTRACTOR upon six (6) months
written notice to EGPC prior to the expiry of the relevant twenty
(20) year period.
Add the following at the end of the second paragraph (e) of Article
III ““GRANT OF RIGHTS AND TERM”” of the Concession
Agreement issued by virtue of Law No. 13 of 1998:
Every four (4) years EGPC shall review the Development Blocks

‫صورة إ‬
of the Development Lease from the date of rst deliveries of Gas
locally or for export , for immediate relinquish for any non-producing
block or any block that does not participate in production (unless

‫لك‬
‫تروني‬
CONTRACTOR submit a development plan for such blocks subject
to the approval of EGPC).
ARTICLE IV
‫ة ال يع‬
Add the following at the end of Article V ““MANDATORY AND
VOLUNTARY RELINQUISHMENTS”” of the Concession Agreement
‫تد بها‬

issued by virtue of Law No. 13 of 1998:

By the time of such relinquishment or the expiry date of the Concession
period, CONTRACTOR shall ensure that all environmental regulations set
‫عند ا‬

out in Article XVIII of the Concession Agreement as amended by virtue

of Article VII below, have been followed, in accordance with sound and
‫ل‬
‫تداول‬

accepted Petroleum industry practices, if so requested by EGPC.

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ±¸

á`````°ùeÉÿG IOÉ``````ŸG
ΓΩΎϣϟ΍ ϥϣ " ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγϻ ιλΧϣϟ΍ ϝϭέΗΑϟ΍ " (˺) (΃) ϥϣ ϰϟϭϻ΍ ΓέϘϔϟ΍ ϑΫΣΗ -
ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍ ϥϣ "ΝΎΗϧϻ΍ ϡΎγΗϗ΍ϭ ΕΎϓϭέλϣϟ΍ϭ ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγ΍" ΔόΑΎγϟ΍
-:ϰϠϳ ΎϣΑ ϝΩΑΗγΗϭ ˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ ΓέΩΎλϟ΍
- U äèUàààI*Ç Ïd  çc åÇe™Ç WOUHÇ v WFÇd*U WU)Ç ÕuBMÇ ÉUÇd l
ÊUOKL lOL WU)Ç ÊUIHMÇè ÊUèdB*Çè nOUJÇ WU s WONÇ WD
Çu çÏULÇ
s ULB è Ïèb v ¬ çc åÇe™Ç WOUHÇ Vu0 UN WIKF*Ç ÊUOKLFÇè WOLMÇè YÇ
s t kH;Çè ZààM*Ç äèdÇ q s ¬ WM
lÑ qààààà (¥³µ) WzU*Ç v 5šè W L
åb  r écÇè ¬ çc åÇe™Ç WOUHÇ vCI0 WIDM*Ç Ïèb q ÇÏ WOLMÇ ÏuI lOL
hB*Ç äèdÇ " ÉÑUF vK ULO äèdÇ Çc vÅ ÑUAè WOèdÇ ÊUOKLFÇ v
."nOUJÇ ÏÇÏd
™
ΓΩΎϣϟ΍ ϥϣ ˬ (LPG) ϝΎγϣϟ΍ ϝϭέΗΑϟ΍ ίΎϏ ϭ ίΎϐϟ΍ (˻) ϥϣ -˺ ϰϟϭϷ΍ ΓέϘϔϟ΍ ϑΫΣΗ -
ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍ ϥϣ ““ΝΎΗϧϻ΍ ϡΎγΗϗ΍ϭ ΕΎϓϭέλϣϟ΍ϭ ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγ΍ ”” ΔόΑΎγϟ΍
ϥϣ ΔϳϧΎΛϟ΍ ΓΩΎϣϟ΍ ΏΟϭϣΑ ϝΩόϣϟ΍ ˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ ΓέΩΎλϟ΍

‫صورة إ‬
: ϰϠϳ ΎϣΑ ϝΩΑΗγΗϭ ˻˹˹̂ Δϧγϟ ˼ ϡϗέ ϥϭϧΎϘϟ΍
: (LPG) ϝΎγϣϟ΍ ϝϭέΗΑϟ΍ ίΎϏ ϭ ίΎϐϟ΍ (˻)

‫لك‬
v vK;Ç âu K tu*Çè ¬bè æÅ ¬ ÏÇÏd
Ç izU è ÏÇÏd
™Ç ÒUè `dÇ ÒU æÅ -±
‫تروني‬
åd*Ç (dA UNHB) WONÇ è (5FzU ULNHB) äèUI*Çè WONÇ 5 ÒUGÇ lO bI
édA è rK  è rOI áu
¬ qbF s UNOK q ÏÃ U0 (ààà) WFU Ç ÉÏULK UIè
: vUÇ äèbK UI Uë dN Ïb dF  WONÇ WD
Çu
‫ة ال يع‬
ΔϳϧΎρϳέΑ Δϳέ΍έΣ ΓΩΣϭ ϥϭϳϠϣ/ ϰϛϳέϣ΃έϻϭΩ (ϝϳϣέΑ/ ϰϛϳέϣ΃ έϻϭΩ) ΕϧέΑ ϡΎΧ έόγ
‫تد بها‬

´[´µ ²µ éèU  èà s qÃ

‫عند ا‬

(±°° / (²µ-Xd)) +´[´µ ´° éèU  èà s qÃ è ²µ s dÃ

´[¶ ´° s dÃ
‫ل‬
‫تداول‬
 ±¹ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

ARTICLE V
Article VII ““RECOVERY OF COSTS AND EXPENSES AND
PRODUCTION SHARING”” (a) (1) ““Cost Recovery Petroleum””, rst
paragraph of the Concession Agreement issued by virtue of Law No.
13 of 1998 shall be deleted and replaced by the following:-
Subject to the auditing provisions under this Concession Agreement,
CONTRACTOR shall recover quarterly all costs, expenses and
expenditures in respect of all the Exploration, Development and related
operations under this Concession Agreement and which was approved
by EGPC to the extent and out of thirty ve percent (35%) of all
Petroleum 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””.
Article VII ““RECOVERY OF COSTS AND EXPENSES AND
PRODUCTION SHARING”” (2) Gas and LPG (i) rst paragraph
of the Concession Agreement issued by virtue of Law No. 13 of 1998
as amended by Article II of Law No. 3 of 2009 shall be deleted and
replaced by the following:-

‫صورة إ‬
(2) Gas and LPG:
(i) The Prot Share, Cost Recovery, and Excess Cost Recovery
Gas, if any, for local market in the Gas Sales Agreement

‫لك‬
between EGPC and CONTRACTOR (as sellers) and EGPC (as
buyer) entered into according to Article VII (e) as amended ,
‫تروني‬
shall be valued, delivered to and purchased by EGPC at a price
determined monthly according to the following table:
‫ة ال يع‬
Brent Price
(U.S.$ / MMBTU)
(U.S.$ / Barrel)
‫تد بها‬

Less than or equal to 25 4.45

Greater than 25
‫عند ا‬

4.45 + ((Brent-25) / 100)

but less than or equal to 40

Greater than 40 4.6

‫ل‬
‫تداول‬
 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ²°

: ϥ΃ ΙϳΣ
qJ WOJd_Ç Éb*Ç ÊU™uÇ ÊÇљèb édNAÇ dF Ç j
u = Xd åU dF

åÇd qèà fš ÑUF

à ddI v sKF u U V  (DTD) Xd åU s qOd
äš pÐè "Spot Crude Price Assessment –– International" æÇuM X%
Ñèb åb V  Xd åU dF
WLO bb% æUJÅ åb WU vè .wMF*Ç dNAÇ
WONÇ lL& ¬ÑuNAÇ s dN äš âš Ç vK åÇd qèà fš ÑUF
à ddI
WU vè .WMKF éd à ÑÏUB vÅ ÙudU Xd åU dF
WLO vK æUIHè äèUI*Çè
.Xd åU dF
WLO vK æUIHè äèUI*Çè WONÇ lL& ÑÏUB*Ç çc q Ïuè åb
á`````°SOÉ°ùdG IOÉ``````ŸG
ΏΟϭϣΑ ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍ ϥϣ " ΢ϧϣϟ΍ " ΔόγΎΗϟ΍ ΓΩΎϣϟ΍ ΔϳΎϬϧ ϰϓ ϰϠϳ Ύϣ ϑΎοϳ -
-: ˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍
¬Çc vUÇ qbFÇ âUHÇ æUd
aÑU bF WOU WM
q WÇb v WONK äèUI*Ç lb (Í)

‫صورة إ‬
Éb*Ç ÊU™uÇ ÊÇљèÏ s љèÏ (²µ[°°°) nà æèdAè Wààà L çÑbè Uë GK
v qLF vÇ ÊÇÑÇÏÇ s WONÇ vHu VÑb hB VÑb WML WOJd_Ç

‫لك‬
. WdA*Çè WOM_Ç ÊUdAÇ vK WUdÇè ÌUÇè áUAJ
™Çè ÊUOUH™Ç äU
‫تروني‬
ÊU™uÇ ÊÇљèÏ s љèÏ ( ²µ[°°°) nà æèdAè Wààà L Uë àààCà äèUàI*Ç lbè
‫ة ال يع‬
éd _Ç ÊÇÑÇÏÇ s WONÇ vHu VÑb hB VÑb WML WOJd_Ç Éb*Ç
Éb*Ç ÊU™uÇ ÊÇљèÏ s љèÏ (µ°[°°°) nà æu L çÑbè mK vULS
. WOJd_Ç
‫تد بها‬

ÊÇљèÏ s љèÏ (µ°[°°°) nà 5 L mK WONK äèUI*Ç uC / äèUI*Ç lb (×)
‫عند ا‬

s Áe èà q s äèUI*Ç uC èà äèUI*Ç äÒUM WU v WOJd_Ç Éb*Ç ÊU™uÇ

uC /äèUI*Ç ÊÇc WFU Wd vÅ tUÇeÇ èà tàààUÇè èà tààÇÒUOÇ èà tuI
‫ل‬
‫تداول‬

.äÒUM VK qJ WuJ(Ç ÏULÇ aÑU v äèUI*Ç

 ²± ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

Where:-
Brent Price = the monthly average price expressed in U.S. Dollars
per barrel for Brent (DTD) quoted in ““Platt’’s Oilgram Price Report””
for ““Spot Crude Price Assessment –– International”” for the month
in question.In the event that the value of Brent Price cannot be
determined because Platt’’s Oilgram Price Report is not published
at all during a month, EGPC and CONTRACTOR shall meet and
agree the value of Brent Price by reference to the other published
sources. In the event that there are no such published sources, EGPC
and CONTRACTOR shall meet and agree the value of Brent Price.
ARTICLE VI
Add the following at the end of Article IX ““BONUSES”” of the
Concession Agreement issued by virtue of Law No. 13 of 1998:-
(h) CONTRACTOR shall pay to EGPC at the beginning of every Financial

‫صورة إ‬
Year after the Effective Date of this Second Amendment Agreement
an amount equal to twenty ve thousand U.S. Dollars ($25,000) as a
training bonus for the training of EGPC employees in departments of

‫لك‬
Agreements, Exploration, Production and Financial Control Foreign
‫تروني‬
and Joint Venture companies. CONTRACTOR shall also pay twenty
ve thousand U.S. Dollars ($25,000) as a training bonus for the
‫ة ال يع‬
training of EGPC employees from other departments with a total
amount of fty thousand U.S. Dollars ($50,000).
‫تد بها‬

(i) CONTRACTOR/CONTRACTOR Member shall pay to EGPC the sum

of fty thousand U.S. Dollars ($50,000), in case CONTRACTOR or
CONTRACTOR Member assigns in whole or in part of it’’s rights,
‫عند ا‬

privileges, duties and obligations to an Afliated Company of the

same CONTRACTOR/CONTRACTOR Member, on the date of the
‫ل‬
‫تداول‬

GOVERNMENT’’s approval of each assignment request.

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ²²

WuJ(Ç ÏULÇ aÑU bM äÒUM WM WONÇ vàààààÅ äèUI*Ç uC/ äèUI*Ç lb (é)
WÏU(Ç ÉÏULK Uë Iè tOÅ äÒUM éà vÅ äèUI*Ç ÁUCà s uC éà tKD äÒUM qàààJ
WMUÇ ÉÏU*Ç Vu0 qbF s UNOK q Ïà U0 çc åÇe™Ç WOUHÇ s sdAFÇè
-: vK UL ¬çUÏÃ
tàààUÇèè tàààÇÒUOÇè tuI s Áe èà q s äèUI*Ç uC / äèUI*Ç äÒUM WU v
¬(äèUI*Ç uC / äèUI*Ç ÊÇc WFUÇ WdAÇ áš) tOÅ äÒUM éà vÅ tàààUÇeÇè
ÊÇљèÏ s љèÏ (²°°[°°°) nà vzU mK WONK äèUI*Ç uC / äèUI*Ç lb
.WOJd_Ç Éb*Ç ÊU™uÇ
á```©HÉ°ùdG IOÉ``````ŸG
˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ϥϣ " ΢΋΍ϭϠϟ΍ϭ ϥϳϧ΍ϭϘϟ΍ " έηϋ ΔϧϣΎΛϟ΍ ΓΩΎϣϟ΍ ϝϣΎϛϟΎΑ ϰϐϠΗ -
:ϰϠϳ ΎϣΑ ϝΩΑΗγΗϭ˺̂̂́ Δϧγϟ

‫صورة إ‬
ô`````°ûY áæeÉãdG IOÉ``````ŸG
΢΋΍ϭϠϟ΍ϭ ϥϳϧ΍ϭϘϟ΍

‫لك‬
ÕU)Ç ±¹µ³ WMààà  ¶¶ rÑ æuUIK ÊUàààOKLFU WLzUIÇ WdàààAÇè äèUàààI*Ç làààC (Ã)
‫تروني‬
U0 ¬ çcOHM ÉÑÏUBÇ `zÇuKÇè tšbFè ( tàààM ³· ÉÏU*Ç ÁUMààà
U) dU;Çè rUM*U
åÇe™Ç WOUH™ ÇcOHM r vÇ ÊUOKLFÇ ÁÇÏà ÉÁUHè Wš  WU)Ç `zÇuKÇ pÐ v
‫ة ال يع‬
çc s éà æuàààJ ™Ã ×dàààA .Ù.å.Ì v äèdàààÇ ÏÑÇuààà vàààK WàààEULKè ¬çcààà
WOUHÇ ÕuàààB l WOàààAL dO èà W{ÑUF UNÇdOààà H èà UàààNšbF èà `àààzÇuKÇ
‫تد بها‬

.çc åÇe™Ç
æQA ±¹¹´ WM  ´ rÑ æuUIÇ åUJ_ ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç lC (È)
‫عند ا‬

s šë I  ÑbB b Uè ʚbF s ULNOK ÃdD b Uè WcOHMÇ tz™è WOÇ
‫ل‬

.WOÇ WUL oKF `zÇu èà 5Çu

‫تداول‬
 ²³ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

(j) 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 of this Concession Agreement,
as amended by Article VIII below, as follows :
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 of two hundred thousand U.S.
Dollars ($200.000).
ARTICLE VII
Article XVIII ““LAWS AND REGULATIONS”” of Law No. 13 of 1998
shall be deleted in its entirety and replaced by the following:
ARTICLE XVIII

‫صورة إ‬
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

‫لك‬
amendments and the regulations issued for the implementation thereof,
‫تروني‬
including the regulations for the safe and efcient performance of
operations carried out for the execution of this Concession Agreement
‫ة ال يع‬
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
‫تد بها‬

Concession Agreement.
(b) CONTRACTOR and Operating Company shall be subject to the
provisions of the Law No. 4 of 1994 concerning the environment
‫عند ا‬

and its executive regulation as may be amended, as well as any

laws or regulations may be issued, concerning the protection of the
‫ل‬
‫تداول‬

environment.
 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ²´

WONÇ vHF ¬ q bÇ VzÇd{ ÕuB (Ò) WUÇ ÉÏU*Ç v tB ÏÑè U ÁUM
U (Ì)
ÖdH vÇ pK ÁÇu
åu
dÇè VzÇdCÇ WU s ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè
vK WdCÇè ÊUFO*Ç Wd{ UdO sL{ qLA vÇ è ÊUOK;Ç s èà WuJ(Ç s
èà tÇd
Ç èà tOLM èà äèdÇ s YÇ vK W{èdH*Ç VzÇdCÇè WUC*Ç WLOIÇ
qè WÃè (LPG) äU *Ç äèdÇ ÒU vK W{èdH*Ç Çcè tKI èà çdbB èà tUÅ
ÈUFÃè bzÇuHÇè ÍUÑ_Ç ÊUFÒu vK ÖdH æà sJ1 vÇ WdCÇ rB åÇeÇ
äèUI*Ç vHFè . pÐ tU Uè WÑUÇ ÊUšFÇè ÊÇÁÇdÇ ÊÇèUÅè WOMHÇ ÊUb)Ç
äèUI*Ç vLU * q Ï é_ ÊUFÒu Wà vK èà äèUI*Ç WOHB vK VzÇd{ Wà s UCÃ
. äU*Ç ÓÃÑ vK Wd{ éà sè
æuJ UNKà äÇu WÑUààà Çè çc åÇe™Ç WOUHÇ Vu0 äèUI*Çè WONÇ ÊUÇeÇè âuI (Ï)
âUH™U ™Å UNKbF èà UdOOG sJ1 ™è UN Uë I è çc åÇe™Ç WOUHÇ åUJ_ WF{U
UN ÊÑb vÇ ÊÇÁÇdàààÇ ÊÇc ÉÑuàààc*Ç ÉbUF*Ç áÇdààà _Ç 5 ÈuJ*Ç ãdàààA*Ç

‫صورة إ‬
. WOK_Ç WOUH™Ç
åUJœ s UÇ s ULuèUIè ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç uèUI lC (à)

‫لك‬
ÊUOKLFU WLzUIÇ WdAÇè äèUI*Ç vK éd ™è ¬ çc åÇe™Ç WOUHÇ v rN WU)Ç
‫تروني‬
ÑbIU d Ÿ Xè s WuJ(Ç UÑbB `zÇu Wà 5OMF*Ç s UÇ s rNOèUIè rNOèUIè
. äU(Ç æuJ UL  ¬ çc åÇe™Ç WOUHÇ ÕuB l tO vAL™ écÇ
‫ة ال يع‬
ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè WONÇ vHF ¬ çc åÇe™Ç WOUHÇ ÖÇd_è (è)
ÊUU'Çè izÇdHÇè WOMN*Ç WGbÇ åu
Ñ q s 5OMF*Ç s UÇ s rNOèUIè rNOèUIè
‫تد بها‬

.çc åÇe™Ç WOUHU ÉÏÑÇuÇ rNDAÃè rNÇbM  vK WOUIMÇ 5ÇuIÇ UN{dH vÇ
‫عند ا‬

vÅ çc åÇe™Ç WOUHÇ Vu0 WuML*Ç .Ù.å.Ì `zÇu èà 5Çu oOD s ÊÇÁUHÇ q (Ò)
pK qLA s UÇ s rNOèUIè rNOèUIè ÊUOKLFU WLzUIÇ WdAÇè äèUI*Çè WONÇ
‫ل‬

. šI  UNK q èà qbF s UNOK ÃdD Uè Uë OU WÑU Ç `zÇuKÇè 5ÇuIÇ
‫تداول‬
 ²µ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

(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
municipalities including among others, Sales Tax, Value Added Tax
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,
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
to the shareholders of CONTRACTOR, and from any tax on capital.
(d) The rights and obligations of EGPC and CONTRACTOR hereunder,
and for the effective term of this Concession Agreement shall be
governed by and in accordance with the provisions of this Concession
Agreement and can only be altered or amended by the written mutual
agreement of the said contracting parties in the same procedures by
which the original Agreement has been issued.
(e) The contractors and sub-contractors of CONTRACTOR and Operating

‫صورة إ‬
Company shall be subject to the provisions of this Concession
Agreement which affect them. Insofar as all regulations which are
duly issued by the GOVERNMENT apply from time to time and are

‫لك‬
not in accord with the provisions of this Concession Agreement, such
‫تروني‬
regulations shall not apply to CONTRACTOR, Operating Company
and their respective contractors and sub-contractors, as the case may
be.
‫ة ال يع‬
(f) EGPC, CONTRACTOR, Operating Company and their respective
contractors and sub-contractors shall for the purposes of this
Concession Agreement be exempted from all professional stamp
‫تد بها‬

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
‫عند ا‬

granted to EGPC, CONTRACTOR, the Operating Company, their

contractors and sub-contractors under this Concession Agreement
shall include such laws and regulations as presently in effect or
‫ل‬
‫تداول‬

hereafter amended or substituted.

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ²¶

á````æeÉãdG IOÉ``````ŸG
˺˼ ϡ˰˰ϗέ ϥϭϧΎϘϟ΍ ϥϣ " ϝίΎϧΗϟ΍ " ϥϭέηόϟ΍ϭ ΔϳΩΎΣϟ΍ ΓΩΎ˰˰ϣ˰˰ϟ΍ ϝϣΎϛϟΎΑ ϰϐϠΗ -
: ϰϠϳ ΎϣΑ ϝΩΑΗγΗϭ˺̂̂́ Δϧγϟ
ϝίΎ˰˰˰˰˰˰˰˰˰˰ϧΗϟ΍
q s Wààà
R èà Wdààà èà hààà é_ äÒUM æà äèUI*Ç èà WONÇ s é_ Òu™ (Ã)
åÇe™Ç WOUHÇ Vàààu0 ÉÑdI*Ç tUÇeÇ èà tàààUÇè èà tàààÇÒUOÅ èà tàààuI iàààF èÃ
äU*Ç qO
vK dU dO äÒUMU bBIè) dàààU dO èà dàààU odD ÁÇuààà
çc
ádB éà èà äu_Ç èà äU*Ç ÓÃÑ èà rN
œ qu% ¬ÁÇd ¬lO ÊUOKL éà dB(Ç ™
(WdAÇ äU ÓÃÑ s tB vK äèUI*Ç uC / äèUI*Ç ÉdDOààà
dOOG tQààà s d Ã
äuB(Ç v WONK Wuè_Ç vDF äÇu_Ç lOL vè ¬ WuJ(Ç s WOU WIÇu æèÏ
WFU WdàààA äÒUMÇ Çb) pÐ v WONÇ XÑ U ÇÐÅ UNM äÒUMÇ ÏÇd*Ç WB(Ç vK
. (äèUI*Ç uC ÊÇc

‫صورة إ‬
èà q s äÒUMÇ äèUILK Òu ¬ (Ã) æèdAFÇè WÏU(Ç ÉÏU*Ç åUJQ äš Ç æèÏ (È)
WFU Wd vÇ çc åÇe™Ç WOUHÇ Vu0 tUÇeÇè tUÇèè tÇÒUOÇè tuI s éÃ
äuB(Çè WU WuJ(Çè WONÇ ÑUD U äèUI*Ç åUO ×dA ¬ äèUI*Ç uC/äèUI*Ç ÊÇc

‫لك‬
‫تروني‬
.äÒUMÇ vK WU WuJ(Ç WIÇu vK
äÒUM*Çè äÒUM*Ç s q qE ¬WFU Wd vÅ âuI(Ç iF èà q s äÒUMÇ WU v
‫ة ال يع‬
s WUMÇ äèUI*Ç ÊUÇeÇè ÊUÇè q s sÏdHM èà 5FL 5u  tOÅ
WdA WHBÇ fHM WFL WFUÇ WdAÇ qE æà ×dA ¬ çc åÇe_Ç WOUHÇ
. WFU
‫تد بها‬

ÉdIHÇ v UNOÅ ÑUA*Ç WuJ(Ç WIÇu vK äuBK VK éà v dEMÇ sJ1 v (Ì)
‫عند ا‬

: WOŸÇ ×èdAÇ ÁUHO

Ç V çšà (È) è (Ã)
çc åÇe™Ç WOUHÇ s WUMÇ äÒUM*Ç ÊUÇeU ÁUuÇ - b æuJ æà V (±)
‫ل‬

. VKDÇ Çc .bI aÑU v `OBÇ uMÇ vK

‫تداول‬
 ²· ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

ARTICLE VIII
Article XXI ““ASSIGNMENT”” of Law No. 13 of 1998 shall be deleted
in its entirety and replaced by the following:
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 Concession 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

‫صورة إ‬
Concession Agreement to an Afliated Company of the same
CONTRACTOR/ CONTRACTOR Member, provided that
CONTRACTOR shall notify EGPC and the GOVERNMENT in
writing and obtain the written approval of the GOVERNMENT on
‫لك‬
the assignment.
‫تروني‬
In the case of an assignment either in a whole or in a part to an Afliated
‫ة ال يع‬
Company, the assignor together with the assignee shall remain jointly
and severally liable for all duties and obligations of CONTRACTOR
under this Concession Agreement provided such Afliated Company
remains in the same capacity as an Afliated Company.
‫تد بها‬

(c) To enable consideration to be given to any request for such

GOVERNMENT’’s consent referred to in (a) or (b) above, the
‫عند ا‬

following conditions must be fullled:

(1) The obligations of the assignor deriving from this Concession
Agreement must have been duly fullled as of the date such
‫ل‬
‫تداول‬

request is made.
 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ²¸

äÒUM*Ç æà WbÇ tè vK ÑdI ÕuB vK äÒUMÇ WIOè qLA æà V (²)
b æuJ Uè çc åÇe™Ç WOUHÇ UNOK éuDM vÇ ÊÇbNFÇ WUJ åeK tOÅ
WIOè ÙèdàààààA åbIè . tÑU v ÊUU{Å èà ʚbF s WU UNOK q ÏÃ
. Uë OL
Ñ UNÇdÅ q UÏUàààLÇè UààààNBH WONÇ vÅ çcàààààààà äÒUMÇ
X vÇ WҚÇ ÊÇbM *Ç WONK åbI æà (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 Uë Iè édà WÇu(Ç çc q* éd à WKO
è éà èà WÇu èà lO èà äÒUM éà (Ï)
U èà äU*Ç ÓÃÑ ÍUÑà vK èà WÇu(Ç vK VzÇd{ Wà s vHF æèdAFÇè WÏU(Ç ÉÏU*Ç
WU dB(Ç fOè äU*Ç qO
vK pÐ v U0 åu
Ñ èà ÁUà èà VzÇd{ s t oKF
VzÇdCÇ èà WGbÇ åu
Ñ è WUC*Ç rOIÇ Wd{è ÊUFO*Ç Wd{è q bÇ vK VzÇdCÇ

‫صورة إ‬
.WNUA ÊUub éà èà éd _Ç
vK WFUÇ WdAÇ áš ÍdI*Ç tOÅ äÒUM*Ç YUÇ ádDÇ è äÒUM*Ç âUHÇ bM (àà)

‫لك‬
Éb*Ç ÊU™uÇ ÊÇљèb çÑbI äÒUM q WIH WLO WMLC äÒUMK WOzUNMÇ ×èdAÇ
‫تروني‬
ÇcN WOzUNMÇ ×èdAÇ çc s šOBH ÍUBÇ äÒUM*Ç vK r tS ¬ WOJd_Ç
äèdK WUFÇ WdB*Ç WONK o .äèdK WUFÇ WdB*Ç WONÇ vÅ WU äÒUMÇ
‫ة ال يع‬
ë
äš Uë OU ÇÑUD Å äÒUM*Ç rK  æà ×dA UNM äÒUMÇ ÏÇd*Ç WB(Ç vK äuB(Ç
fH UNu çdD è UN vUJÇ äÒUM*Ç ÑUD Å aÑU s Uë u (¹°) 5F 
‫تد بها‬

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 Uë u (¹°) 5F  Éb äš ÑUD Ç ÇcN
‫عند ا‬

ÉdIHK Uë Iè WuJ(Ç WIÇu ×dA ¬ ÍdI*Ç tOÅ äÒUM*Ç YUÇ ádDÇ vÅ UNM äÒUMÇ
‫ل‬

. ÉÏU*Ç çc s "Ã"

‫تداول‬
 ²¹ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

(2) The instrument of assignment must include provisions stating

precisely that the assignee is bound by all covenants contained in
this Concession Agreement and any modications or additions in
writing that up to such time may have been made. A draft of such
instrument of assignment shall be submitted to EGPC for review
and approval before being formally executed.
(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,

‫صورة إ‬
or other Taxes or similar payments.
(e) Once the assignor and a proposed third party assignee, other than

‫لك‬
an Afliated Company, have agreed the nal conditions of an
‫تروني‬
assignment, the assignor shall disclose in details such nal conditions,
including the value of each assignment deal valued in U.S. Dollars,
‫ة ال يع‬
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
‫تد بها‬

a written notication that it accepts the same conditions agreed to

with the proposed third party assignee. If EGPC does not deliver such
‫عند ا‬

notication within such ninety (90) day period, the assignor shall have
the right to assign to the proposed third party assignee, subject to the
‫ل‬
‫تداول‬

Government approval under paragraph (a) of this Article.

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ³°

UNM äÒUMÇ ÏÇdààà*Ç WB(Ç vK äuààààààB(Ç ÑUO Ç vààà UNI WONÇ Wààà
ÑU2 WU vààà
äèUàààI*Ç ÁUààààààCÃ 5ààà “ãdàààA qàààààOGàààA WàààOUHÇ ” Ïuàààè åbààààààà WàààU vàààè
äuààààà bààààK WàààààààO sààààààà  äèUàààI*Çè WààààààONÇ ÖèUàààHààà äÒUàààM*Ç ràààààààNO UàààLààà
WààààDààà
Çuààà ÑuààààààààAM*Ç ÌÐuàààLàMàK Uë àààI ¬ “ãdàààààA qààààààOGàààA WàààààààOUHÇ ” vààà
åUààà9 pàààÐè "Association for International Petroleum Negotiators"
oH r ÇÐÅ .WONÇ ÑUD Å aÑU sààà Uë u (±²°) sdàààAè WzU äš âUH™Ç Çcààà
(±²°) Uë u sdAFÇè WzU*Ç Éb äš ãdàààA qOGàààA WOUHÇ vK äèUI*Çè WONÇ
WIÇu ×dA ¬ ÍdI*Ç tOÅ äÒUM*Ç YUÇ ádDK äÒUM æà äÒUMLK o tS ¬ çc
. ÉÏU*Ç çc s “Ô ÉdIHK Uë Iè WuJ(Ç
ÊUÇè qJ ÁUuÇ v 5MUC 5MU{ Uë F tOÅ äÒUM*Çè äÒUM*Ç æuJ æà V (è)
Uë Iè WB WQ kH äÒUM*Ç æà U*U ¬ çc åÇe™Ç WOUHÇ Vu0 äèUI*Ç ÊUÇeÇè
.çc åÇe™Ç WOUH™
á`````©°SÉàdG IOÉ``````ŸG
"ΔϣΎϋ ϡΎϛΣ΃ " ϰϟϭϻ΍ ΓΩΎϣϟ΍ ϥϣ : ρΎηϧϟ΍ ΕΎϧΎϳΑ -˻ (Ώ) ΓέϘϔϟ΍ ΔϳΎϬϧ ϰϓ ϰϠϳ Ύϣ ϑΎοϳ

‫صورة إ‬
-:˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍ ϥϣ "Ω" ϕΣϠϣϟ΍ ϥϣ
qbFÇ âUHÇ s W U)Ç ÉÏU*Ç Vu0 qbF s UNOK q ÏÃ U0 WFU Ç ÉÏULK UI
WbI YÇè WOLMÇ WDA_ WLzU q ÏULÇè WFÇd0 WONÇ åuI áu
¬ Çc vUÇ
‫لك‬
‫تروني‬
fJFM áu
WONK ÊUEš éÃè (WU(Ç V  ) ÊUOKLFU WLzUIÇ WdAÇ èà äèUI*Ç s
WM Ç lÑ WLzU v ( WU(Ç V  ) ÊUOKLFU WLzUIÇ WdAÇ èà äèUI*Ç WD
Çu UÑUÂ
‫ة ال يع‬
. WOUÇ WO1uIÇ
ϑϳϟΎϛΗϟ΍" ΔϳϧΎΛϟ΍ ΓΩΎϣϟ΍ ϥϣ : " ΎϬΑ ΔϘϠόΗϣϟ΍ ϑϳϟΎϛΗϟ΍ϭ ΔϟΎϣόϟ΍ " (Ώ) ϥϣ (˺) ΓέϘϔϟ΍ ϰϐϠΗ
ϥϭϧΎϘϟ΍ ΏΟϭϣΑ ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍ ϥϣ "Ω" ϕΣϠϣϟ΍ ϥϣ "ΕΎϘϔϧϟ΍ϭ ΕΎϓϭέλϣϟ΍ϭ
‫تد بها‬

-:ϰϠϳ ΎϣΑ ϝΩΑΗγΗ ϭ˺̂̂́ Δϧγϟ ˺˼ ϡϗέ

¬ ÊUOKLFU WLzUIÇ WdAÇ èà äèUI*Ç vb * WONÇ s ÉbLF*Ç Ñu_Çè ÊUd*Ç (±)
‫عند ا‬

U0 åÇe™Ç WOUHÇ Vu0 WHK*Ç WDA_Ç v ÉdU æuKLF scÇ ¬äÇu_Ç V 

Ñu_Çè ÊUd*Ç pÐ v U0 ¬ Çc vUÇ qbFÇ âUHÇ Vu0 qbF s UNOK q ÏÃ
‫ل‬

.UNO æuKLFè WDA_Ç çcN Uë R æuIK scÇ sd ŸÇ 5Hu*Çè 5OuuOK Wub*Ç
‫تداول‬
 ³± ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

In the event that EGPC exercises its option to acquire the interest
intended to be assigned and if a joint operating agreement is not 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 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 on a joint
operating agreement within such one hundred and twenty (120) day
period, the assignor shall have the right to assign to the proposed third
party assignee, subject to the Government approval under paragraph
(a) of this Article.
(f) As long as the assignor shall hold any interest under this Concession
Agreement, the assignor together with the assignee shall be jointly
and severally liable for all duties and obligations of CONTRACTOR
under this Concession Agreement.
ARTICLE IX

‫صورة إ‬
Add the following at the end of Article I ““GENERAL PROVISIONS””
(b) (2) ““Statements of Activity”” of Annex ““D”” of the Concession
Agreement issued by virtue of Law No. 13 of 1998:-
Pursuant to Article VII as amended by Article V herein, EGPC shall audit

‫لك‬
and approve each statement of Development and Exploration Activity
‫تروني‬
submitted by the CONTRACTOR or the Operating Company (as the
case may be). Any comments made by EGPC shall be reected by the
‫ة ال يع‬
CONTRACTOR or the Operating Company (as the case may be) on the
Statement produced for the next calendar quarter.
Article II ““COSTS, EXPENSES AND EXPENDITURES”” (b) 1.
‫تد بها‬

““Labor and Related Costs”” of Annex ““D”” of the Concession Agreement

issued by virtue of Law No. 13 of 1998 shall be deleted and shall be
replaced by the following:-
‫عند ا‬

(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
‫ل‬
‫تداول‬

Concession Agreement as amended herein, including salaries and

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ³²

v ÊÇdOGÇ ÑU™Ç v c _Ç l Ñu_Çè ÊUd*Ç pK vK W

UM*Ç ÊšbFÇ éd&è
ÉdIHÇè (È) ÉdIHÇ çc ÖdGè . Ñu_Ç vK WID*Ç 5ÇuIÇ ÊšbFè äèUI*Ç WLEÃ
WdàC WF{U)Ç mU*Ç vMF Ñu_Çè ÊUd*Ç æS oK*Ç Çc s WOUÇ ÉÏU*Ç s (Ì)
sJè ¬ WO{d*Ç ÊÇÒUÇè ÊÇÒUÇ ÁUMà ÊUd*Ç pÐ v ULààà .Ù.å.Ì v q bÇ
. çUÏÃ (²) X% WÑb*Ç W MÇ UNODG vÇ éd _Ç ÏuMU WU)Ç mU*Ç q ÁUM
U
ιλΧϣϟ΍ ϝϭέΗΑϟ΍ ϑϭηϛϭ ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγ΍ ϑϭηϛ" (΃) ΔϳΎϬϧ ϰϓ ϰϠϳ Ύϣ ϑΎοϳ
ϥϣ "Ω " ϕΣϠϣϟ΍ ϥϣ "ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγ΍" ΔόΑ΍έϟ΍ ΓΩΎϣϟ΍ ϥϣ "ϑϳϟΎϛΗϟ΍ Ω΍ΩέΗγϻ
-:˺̂̂́ Δϧγϟ ˺˼ ϡϗέ ϥϭϧΎϘϟ΍ ΏΟϭϣΑ ΓέΩΎλϟ΍ ϡ΍ίΗϟϻ΍ ΔϳϗΎϔΗ΍

qbFÇ âUHÇ s W U)Ç ÉÏU*Ç Vu0 qbF s UNOK q ÏÃ U0 WFU Ç ÉÏULK UI
WbI YÇè WOLMÇ WDA_ WLzU q ÏULÇè WFÇd0 WONÇ åuI áu
¬ Çc vUÇ
ÊUEš éà .v1uIÇ WM Ç ld WIKF*Ç ÑUF
_Çè ÌUÇ ÊUOL pcè äèUI*Ç s

‫صورة إ‬
. vUÇ WO1uIÇ WM Ç lÑ WLzU vK äèUI*Ç WD
Çu UÑUÂ fJFM áu
WONK
Iô``````°TÉ```©dG IOÉ``````ŸG

‫لك‬
WOUHÇ æS ¬ Çc vUÇ qàààbFÇ âUHÇ Vu0 bbÇ tè vK tKbF - Uààà ÁUMààà
U
‫تروني‬
WU v tS ¬ pÐ lè . åUJà sààà UN ÏÑè U* UIè d_Çè ÉuIÇ qUJ dLààà  åÇeààà™Ç
‫ة ال يع‬
Çc åUJà æS ¬ Çc vUÇ qbFÇ âUHÇ åUJÃè åÇe™Ç WOUHÇ åUJà 5ààà ÖÑUàààF éÃ
. éd  vÇ v dO _Ç
‫تد بها‬

ô`````°ûY á``jOÉ◊G IOÉ``````ŸG

Wš WONÇè WuJ(Ç kH% WKU2 äuà (´) WFÑà s Çc vUÇ qbFÇ âUHÇ Ñd
‫عند ا‬

qLFK pÐè Çc vUÇ qbFÇ âUHÇ s (±) bÇè qQ äèUI*Ç kHè äuà (³)
.åèeKÇ bM UNu0
‫ل‬
‫تداول‬
 ³³ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

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.
Add the following at the end of Article IV ““COST RECOVERY””
(a) ““Statements of Recovery of Costs and of Cost Recovery
Petroleum”” of Annex ““D”” of the Concession Agreement issued by
virtue of Law No. 13 of 1998:-
Pursuant to Article VII as amended by Article V herein, EGPC shall
audit and approve each Statement of Development and Exploration

‫صورة إ‬
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 produced for the next calendar quarter.

‫لك‬
ARTICLE X
‫تروني‬
Except as specically amended hereby, the Concession Agreement shall
‫ة ال يع‬
continue in full force and effect in accordance with its terms. However,
in case of conict between the provisions of the Concession Agreement
and the provisions of this Second Amendment Agreement, the latter shall
‫تد بها‬

prevail.
ARTICLE XI
‫عند ا‬

This Second Amendment Agreement is issued of four (4) identical originals,

the Government and EGPC retain three (3) originals, CONTRACTOR
retains one (1) original of this Second Amendment Agreement to act in
‫ل‬
‫تداول‬

accordance to its provisions if necessary.

 ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç ³´

ô`````°ûY á`````«fÉãdG IOÉ``````ŸG

ÊUUJ*Ç WU æÃè ULN ÑU*Ç q;Ç Çc ÑbB ULNM q sd æÇuMFÇ æQ æUdDÇ dÃ
UààÑUà WUJ WMè WO æÇuMFÇ Çc vK ULNM qJ sKF q
d vÇ Êš
Çd*Çè
Vu0 tÇuMF d ŸÇ ádDÇ ÑUD Å WOK 5F tÇuMF 5dDÇ bà dOOG WU vè WààààOuUIÇ
WUJ WMè WO æÇuMFÇ Çc ʚ
Çd ÊdÇ ™Åè äuuÇ rKF tOK vu ÈUD
.WOuUIÇ UÑUÃ
ô`````°ûY á`````ãdÉãdG IOÉ``````ŸG
s æuU ÑbB æà vÅè r U tOd s é_ Uë eK Çc vUÇ qbFÇ âUHÇ æuJ ™
qbFÇ âUHÇ vK lOuÇ äèdÇ dÒu äu WOdFÇ dB WÑuNL v WàààB*Ç ÊUN'Ç
UN nU vuJ ldA éà s dEMÇ iG çdÃè æuUIÇ Éu tOK vHCè Çc vUÇ
. äèUI*Çè WONÇè WuJ(Ç s Çc vUÇ âUHÇ lOu bFè
ΩΗϣϳϟ ΕΑϳΟϳ· ϥϳΟέϧ· Δϛέη
UNM
................................................... :bààO Ç

‫صورة إ‬
................................................... :tHB
.................................................. :lOuÇ

‫لك‬
ϝϭέΗΑϠϟ ΔϣΎόϟ΍ Δϳέλϣϟ΍ Δ΋ϳϬϟ΍
‫تروني‬ UNM
................................................... :bààO Ç
‫ة ال يع‬
................................................... :tHB
................................................... :lOuÇ
ΔϳΑέόϟ΍ έλϣ ΔϳέϭϬϣΟ
‫تد بها‬

UNM
............................................. :bààO Ç vUF
‫عند ا‬

.................................................... :tHB
.................................................... :lOuÇ
‫ل‬
‫تداول‬

.................................................. : aÑUàààÇ
 ³µ ²°²± WM
fD Ã ±µ v ( Ì ) ÑdJ ³² ÏbFÇ - WOL
dÇ Ébd'Ç

ARTICLE XII
The parties approved that the address supplemented to their entity in
the preface is their chosen address for notication, all notices sent and
correspondences received in such address are considered valid with
the outcome of all its legitimate effects. In the event any of the parties
changes the aforesaid address, such party shall notify the other party by a
registered letter upon receipt otherwise, the correspondence only sent to
the aforementioned address is to be considered valid with the outcome of
all its legitimate effects.
ARTICLE XIII
This Second Amendment 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 Second Amendment Agreement and giving this Second Amendment
Agreement full force and effect of law. Notwithstanding any countervailing
governmental enactment, and the Second Amendment Agreement is signed
by the GOVERNMENT, EGPC and CONTRACTOR.

‫صورة إ‬
ENERGEAN EGYPT LIMITED
By
Mr.: ------------------------------------------------------
In his capacity: ------------------------------------------
‫لك‬
Signature: ------------------------------------------------
‫تروني‬
EGYPTIAN GENERAL PETROLEUM CORPORATION
‫ة ال يع‬
By
Mr.:-------------------------------------------------------
In his capacity:------------------------------------------
‫تد بها‬

Signature:------------------------------------------------
ARAB REPUBLIC OF EGYPT
By
‫عند ا‬

His Excellency: ------------------------------------------

In his capacity: -------------------------------------------
‫ل‬

Signature: -------------------------------------------------
‫تداول‬

Date: -------------------------------------------------------
WdO_« lUD*« ÊuA WUF« WONU XF
ÉÑÇÏÇ fK fOzÑ
Âö« b³ŽŽ ÂU½ ·dý» Ø VÝU×
²°²± WM  ¶µ VJÇ ÑÇb ÙÇbÇ rÑ

‫صورة إ‬
²µ¹ - ²°²±/±±/² - ²°²±/²µ³´¸

‫لك‬
‫تروني‬
‫ة ال يع‬
‫تد بها‬
‫ل‬ ‫عند ا‬
‫تداول‬