Middle East Economic Survey

VOL. L

No 5

29-Jan-2007

MAURITANIA

BG Sells Mauritanian Assets To Kufpec

BG Group on 18 January announced that it had completed the sale of Mauritania Holdings BV to Kuwait Foreign Petroleum Exploration Company (Kufpec) for $128mn. The sale marks the disposal of all BG assets in Mauritania, the company said. Mauritania Holdings had been purchased by BG Group in 2004 from Australias Hardman Resources for $132mn, and was a wholly-owned subsidiary. BG said the group had...