Middle East Economic Survey

VOL. XLIX

No 3

16-January-2006

LIBYA

Amerada Hess 2006 Budget Allocates $779Mn For Libya And Egypt

Amerada Hess on 11 January announced a $4bn capital and exploratory expenditure program for 2006 that allocates $366mn for re-entry to Libyas Waha concession and $413mn for the acquisition of assets in Egypt from Apache Corporation. As a partner in the Oasis Group with ConocoPhillips and Marathon Oil, Amerada Hess announced on 29 December that the group had reached...