Middle East Economic Survey

VOL. XLVIII

No 5

31-January-2005

EGYPT

OPIC Providing $300Mn In Insurance For Egyptian Gas Development

The Overseas Private Investment Corporation (OPIC), which is a US government agency, announced on 19 January that it was providing $300mn in political risk insurance to Apache Corporation. Apache, which is the largest US investor in Egypt, is helping the country shift the emphasis of its energy production from oil to natural gas. Apache will use the OPIC insurance to...