VOL. XXXI

NO. 30

2-MAY-1988

EGYPT

Nippon Mining Acquires Interest in Five Conoco Concessions in Egypt

NipponMining Company (NMC) of Japan has announced that it signed an agreement withConoco on 18 April under which it has acquired a 10-20% interest in ten Conococoncessions: five in Egypt and one each in Ireland, France, Tunisia, Somalia andIndonesia NMC will provide some $40mn out of an estimated $140mn needed to drillabout 20 wildcats in the ten concessions over the next three years.

The five...