GANOPEGanoub El Wadi Holding Petroleum Company
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The tender draft agreement, a copy of which was obtained by Daily News Egypt, Ganope has determined that in case a dispute took place with contracting parties, the foreign partner is not entitled to file any case before international arbitration, as the Cairo Arbitration Centre is the only body authorised to settle these cases.
The petroleum sector was re-structured in 2001-03 so that, under the ministry, three specialised entities were created to function in parallel with EGPC: Egas, Echem, and Ganope - the latter being in charge of petroleum operations in Upper Egypt of the country's south.
In 2015, the EBRD signed a Memorandum of Understanding with EGPC, EGAS and Ganope under the auspices of the Ministry of Petroleum of Egypt.
Once the Abu Tartour shales are to be developed, they will be part of Ganope's E&P operations, with EMRA (see omt4EgyptWhoJan25-10) to transfer that area to the company.
IFC will be working with four key entities of the energy sector: the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), the Egyptian Holding Company for Petrochemicals, and Ganoub El Wadi Petroleum Company (Ganope), IFC announced in a statement.
He pointed out that the first bid round will be for oil and gas exploration in the Red Sea, which falls under the jurisdiction of Ganoub El Wadi Petroleum Holding Company (Ganope).
EGPC owns 50% of all JVs producing crude oil in Egypt, with the state's 50% JV partner in southern Egypt being Ganope and 50% JV partner in gas E&P operations being Egas.
In addition to the EGPC, other important regulatory companies in the energy sector are the Egyptian Mineral Resource Authority (Emra), Egyptian Natural Gas Holding Company (Egas), the Egyptian Petrochemicals Holding Company (Echem), and Ganoub El Wadi Petroleum Holding Company (Ganope).
There are about 75,000 people working in the state's hydrocarbon sector, including EGPC, Ganope, Egas and Echem, under the control of the Petroleum Ministry.
The results of recent geophysical data analysis in the Red Sea carried out by Schlumberger in cooperation with Ganoub El Wadi Petroleum Holding Company (Ganope) revealed a 70% potentiality for new natural gas discoveries according to a seismic survey.