APA Corporation Announces Egyptian Parliament’s Approval of Modernized Production Sharing Contract
APA Corporation (APA)
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Source: GlobeNewswire
HOUSTON, Nov. 30, 2021 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced the Egyptian Parliament has approved the previously announced agreement to modernize and consolidate its current Production Sharing Contracts (PSCs) with Egypt’s Ministry of Petroleum and Mineral Resources (MOP) and the Egyptian General Petroleum Corporation (EGPC). The PSC now goes to the desk of Egyptian President Abdel Fattah El-Sisi for his ratification, which is the next and final step for the revised PSC terms to take full legal effect. Once this has occurred, APA will provide additional details of the PSC changes and updated guidance regarding the financial impacts of various terms, APA’s revised investment plans and the resulting changes to the near-term production growth profile. “This is the culmination of nearly two years of work with Egypt’s Ministry of Petroleum and Mineral Resources and EGPC to modernize the economic and operational terms of our PSC. The changes will return Egypt
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APA
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- 2/22/24 - Beat
APA
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- 4/12/24 - Form DEFA14A
- 4/12/24 - Form DEF
- 4/10/24 - Form 8-K
- APA's page on the SEC website