Egypt's Minister of Petroleum Sharif Ismail provided an offer over the main conditions of two draft agreements allowing oil exploration to the Egyptian Authority for Oil and a number of international companies, Al Bawaba News reported on Monday. The step came during the meeting of the economic ministerial committee headed by Egypt's Prime Minister Ibrahim Mahlab on Monday. The Egyptian official also provided a statement about the oil shipments required by the Egyptian Authority for Oil during June to meet the needs of the Egyptian people. On his hand, Mahlab stressed the need for completing the study related to the distribution of gas cylinders with the smart cards to include the different categories of the Egyptian people. The committee accepted a proposal to establish a holding company for the local development to ease the load on the government and to ensure the performance efficiency.
