Gas and LPG. (i) The Cost Recovery, Production Sharing and excess cost recovery , if any, Gas Price for local market will be agreed upon between CONTRACTOR and EGPC or EGAS after the Commercial Discovery and before converting an area to a Development Lease(s). Production Sharing Gas Price for export will be valued at Netback Price. (ii) The Cost Recovery and Production Shares of (LPG) produced from a plant constructed and operated by or on behalf of EGPC and CONTRACTOR shall be separately valued for Propane and Butane at the outlet of such LPG plant according to the following formula (unless otherwise agreed between EGPC and CONTRACTOR): PLPG = 0.95 PR Where PLPG = LPG price (separately determined for Propane and Butane) in U.S. Dollars per metric ton. PR =The average over a period of a month of the figures representing the mid-point between the high and low prices in U.S. Dollars per metric ton quoted in "Xxxxx'x LPGaswire" during such month for Propane and Butane FOB Ex-Ref/Stor. West Mediterranean. In the event that "Xxxxx'x LPGaswire" is issued on certain days during a month but not on others, the value of (PR) shall be calculated using only those issues which are published during such month. In the event that the value of (PR) cannot be determined because "Xxxxx'x LPGaswire" is not published at all during a month, EGPC and CONTRACTOR shall meet and agree to the value of (PR) by reference to other published sources. In the event that there are no such other published sources or if the value of (PR) cannot be determined pursuant to the foregoing for any other reason , EGPC and CONTRACTOR shall meet and agree the value of (PR) by reference to the value of LPG (Propane and Butane) delivered FOB from the Mediterranean Area. Such valuation of LPG is based upon delivery at the delivery point specified in Article VII (e) (2) (iii). (iii) The prices of Gas and LPG so calculated shall apply during the same month. (iv) The Cost Recovery and Production Shares of Gas and LPG disposed of by EGPC and CONTRACTOR other than to EGPC or EGAS shall be valued pursuant to Article VII (e).

Gas and LPG. (i) The Cost Recovery and Profit Shares of Gas subject to a Gas Sales Agreement between EGPC and CONTRACTOR (as sellers) and EGPC (as buyer) entered into pursuant to

Gas and LPG. For the purpose of production sharing of Gas and LPG and the purpose of Production bonuses, all quantities of LPG produced shall convert into equivalent quantities of Gas and to be added to the quantities of Gas produced from the Area. where Xxxxx xxxxx upon which shares are divided is the quarterly average price expressed in U.S. Dollars per barrel for Xxxxx quoted in “Platts Crude Oil Marketwire report”, in the event that such average cannot be determined because “Platts Crude Oil Marketwire report” is not published at all during a month, the Parties shall meet and agree the value of Xxxxx by reference to other published sources. In the event that there are no such published sources or if the value of Xxxxx cannot be determined pursuant to the foregoing for any other reason, EGAS and CONTRACTOR shall meet and agree on a value of Xxxxx. Such Production Shares referred to in Article VII (b) (1) (i) and (ii) above shall be taken and disposed of pursuant to Article VII (e).

Gas and LPG i- The Cost Recovery Petroleum, Production Sharing and Excess Cost Recovery, if any, of Gas which is disposed of for local market, according to the Gas Sales Agreement between EGAS and CONTRACTOR (as sellers) and EGAS (as buyer) entered into pursuant to Article VII(e) shall be valued, delivered to and purchased at a price, to be agreed upon by EGAS and CONTRACTOR, based on technical and economic factors for developing the area (including but not limited to water depth, reservoir depth, the actual expenditure and expected investments over the Development project lifetime, proven and probable Gas reserves, internal rate of return on investment to achieve the interests of the parties and the prevailing applicable Gas price in comparable concession areas having similar conditions). Such agreed Gas price shall be stated in the relevant Development Lease application before the Minister of Petroleum’s approval according to Article III(d)(ii). ii- In case CONTRACTOR exports part or all its share of Production Sharing of Gas jointly with EGAS, pursuant to Article VII(e), such exported Gas shall be valued according to the relevant net back price. iii- In case CONTRACTOR disposes locally and/or solely exports part of its share of Production Sharing of Gas to third party then the following shall apply: a- CONTRACTOR’s quantities disposed to the third party shall be valued based on the agreed price between the CONTRACTOR and such third party. b- CONTRACTOR’s quantities disposed to EGAS shall be valued based on gas price agreed by EGAS and CONTRACTOR according to the basis mentioned above. iv- In case CONTRACTOR disposes solely all its share of Production Sharing of Gas locally and/or exports to third party then the CONTRACTOR’s quantities sold to the third party shall be valued based on the agreed price between the CONTRACTOR and such third party. v- The Cost Recovery Petroleum, Production Sharing and Excess Cost Recovery, if any, of LPG produced from a plant constructed and operated by or on behalf of EGAS and CONTRACTOR shall be separately valued for Propane and Butane at the outlet of such LPG plant according to the following formula (unless otherwise agreed between EGAS and CONTRACTOR): PLPG= 0.95 × PR PLPG = LPG price (separately determined for Propane and Butane) in U.S. Dollars per metric ton. PR =The average over a period of a month of the figures representing the mid-point between the high and low prices in U.S. Dollars per metric ton quoted in "Xxxxx'x XX Gas...

Gas and LPG i- Priority shall be given to meet the requirements of the local market as determined by EGAS, taking into consideration the following cases:- - In case CONTRACTOR elects to dispose all or part of its share of production sharing Gas and, to local market to third party other than EGAS, CONTRACTOR shall submit an application to EGAS to obtain the Minister of Petroleum’s approval on Gas quantities, price and Gas Sales Agreement of such Gas. - In case CONTRACTOR exports Gas, solely or jointly with EGAS, they should obtain the Minister of Petroleum’s approval on the price and quantities allocated for export. - In case EGAS or EGAS and CONTRACTOR export LPG , they should obtain the Minister of Petroleum’s approval on the price and quantities allocated for export. ii- In the event that EGAS is the buyer of Gas, the disposition of Gas as indicated above shall be made by virtue of a long term Gas Sales Agreement(s) to be entered into between EGAS and CONTRACTOR (as sellers) and EGAS (as buyer). EGAS and CONTRACTOR (as sellers) shall have the obligation to deliver the Gas at the delivery point as indicated below, where such Gas shall be metered for sales, royalty, and other purposes required by this Agreement. (a) In the event no LPG plant is constructed to process such Gas, the processed Gas delivery point shall be at the flange connecting the Development Lease pipeline to the nearest point on the National Gas Pipeline Grid System and the Crude and Condensate delivery point shall be at the nearest point on the Crude and Condensate Pipeline Network as depicted in Annex "F" hereto or as otherwise agreed by EGAS and CONTRACTOR. (b) In the event an LPG plant is constructed to process such Gas, such Gas shall, for the purposes of valuation and sales, be metered at the outlet of such LPG Plant. However, notwithstanding the fact that the metering shall take place at the LPG Plant outlet, CONTRACTOR shall through the Joint Venture Company build a pipeline suitable for transport of the processed Gas from the LPG Plant outlet to the nearest point on the National Gas Pipeline Grid System (Gas delivery point), the Condensate delivery point shall be at the nearest point on the Crude and Condensate Pipeline Network and the LPG delivery point shall be at the nearest point on the LPG Pipeline Network as depicted in Annex "F" hereto, or otherwise agreed by EGAS and CONTRACTOR. Such pipeline shall be owned in accordance with Article VIII (a) by EGAS, and its cost shall be financed a...

Gas and LPG. Gas and LPG produced and saved under this Agreement and not used in petroleum operations Barrels oil equivalent per day (BOEPD) (Quarterly average) EGPC CONTRACTOR SHARE SHARE That portion or increment up to 5000 sixty-five percent thirty-five percent BOEPD (65%) (35%) That portion or increment in excess of seventy percent thirty percent 0000 XXXXX and up to 10,000 BOEPD (70%) (30%) That portion or increment in excess of seventy-five percent twenty-five percent 10,000 BOEPD and up to 15,000 BOEPD (75%) (25%) That portion or increment in excess of eighty percent twenty percent 15,000 BOEPD and up to 25,000 BOEPD (80%) (20%) That portion or increment in excess of eighty-five percent fifteen percent 25,000 BOEPD (85%) (15%)

Gas and LPG. (i) The Cost Recovery and Profit Shares of Gas subject to a Gas Sales Agreement between E.G.P.C. and CONTRACTOR (as sellers) and E.G.P.C. (as buyer) entered into pursuant to Article VII (e) shall be valued, delivered to and purchased by E.G.P.C. at a price determined monthly according to the following formula:

Gas and LPG. (i) The Cost Recovery and Production Shares of Gas subject to a Gas Sales Agreement between EGPC and CONTRACTOR (as sellers) and EGPC (as buyer) entered into pursuant to Article VII (e) shall be valued, delivered to and purchased by EGPC at a price determined monthly according to the following formula : Where : PG = the value of the Gas in U.S. Dollars per thousand cubic feet (MCF). H = the number of British Thermal Units (BTU’s) per thousand cubic feet (MCF) of Gas. F = a value in U.S. Dollars per million British Thermal Units (mmbtu) determined monthly set as follows : The price of Gas produced from EAST WADI ARABA Concession Agreement will be based on the Concession Agreement formula and defining the Gulf of Suez Blend price per barrel as equal to Xxxxx crude price per barrel minus US$ 2.00 (two United States Dollars) with minimum (floor) and maximum (ceiling) price according to the following table : Price of Xxxxx ( US$ / barrel ) F ( US$ / mmbtu ) Less than or equal to 12 1.50 Greater than or equal to 24 2.50 27 Between the minimum and maximum Gas Price , following formula shall be applied : PG = 0.0233 x B (6.33 - { 0.07725 X B } ) x D Where : PG = The same definition of PG above B = Barrel Xxxxx xxxxx in U.S. Dollars D = The number in Millions British Thermal Units (MMBTU’s) per thousand cubic feet of Gas ( The number of British Thermal Units per 1000 standard cubic feet) Where Xxxxx is the monthly average price expressed in US Dollars per barrel for XXXXX (DTD) quoted in “Xxxxx’x Oilgram Price Report” for “Spot Crude Price Assessment - International” for the month in question. In the event that the value of F cannot be determined because Xxxxx’x Oilgram Price Report is not published at all during a month, the Parties shall meet and agree the value of Xxxxx by reference to other published sources. In the event that there are no such published sources or if the value of Xxxxx cannot be determined pursuant to the foregoing for any other reason, the Parties shall meet and agree a value of Xxxxx. (ii) The Cost Recovery and Production Shares of LPG produced from a plant constructed and operated by or on behalf of EGPC and CONTRACTOR shall be separately valued for Propane and Butane at the outlet of such LPG plant according to the following formula (unless otherwise agreed between EGPC and CONTRACTOR): PLPG = 0.95 PR - (J X 0.85 X F )

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