EGYPT

Egypt Approves Conoco's Acquisition of 50% Stake in Phoenix's Khalda Concession 

The Egyptian Government has approved the assignment by Phoenix Resources (Texas International) of a 50% interest in the Khalda concession in the northwestern part of Egypt's Western Desert to Conoco (MEES, 30 September). Under the terms of the $150mn farm-in agreement, Conoco will become the operator for the acreage in which Phoenix has already made two substantial oil discoveries at...