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BP Acquires New Acreage in Egypt

The offers committee of the Egyptian General Petroleum Corporation (EGPC) has approved the award of three new tracts to British Petroleum (BP). One tract, located west of Wepco's Abu Qir gas field in the Mediterranean, has an area of about 2,500 sq. kms. The other two more sizeable tracts, with a combined area of about 70,000 sq. kms., are located in what are regarded as frontier areas: one south of the...