Middle East Economic Survey


No 47



Indias IVRCL Farms Into Two Egyptian Blocks For Undisclosed Sum

Indias IVRCL Infrastructures and Projects has acquired a 20% interest in two Egyptian exploration blocks, in the Western Desert and offshore Nile Delta, with the acquisition of the unlisted Indian firm Alkor Petroo for an undisclosed sum. Block 6 in the Nile Delta could have oil reserves of up to 143mn barrels and as much as 6.5 TCF of gas, IVRCL said on 12 November in its...