General Petroleum Company (GPC) decided to extend both contracts of “Amer” and “Bakr” oilfields, located in its acquisition area in Ras Gharib, one of the leading centers of petroleum production in Egypt, in the Red Sea. Earlier, GPC said it would offer both fields to foreign partners.

The company’s board of directors said they would ask the Egyptian General Petroleum Corporation (EGPC) to make the Bakr deal reach the year 2015, and the Amer contract till 2018.

That came during the late meeting of the GPC board, where Ashraf Shanhoury, member of the board, assured the importance of the two fields as two of the most significant discoveries in the area of Ras Gharib, and it would be a great loss specially their production reach up to 20,000 barrels per day.

Eng. Sameh Fahmy strongly rejected placing those two tenders under foreign control, as their output represent 35% of GPC daily production.