Middle East Economic Survey

VOL. LIV

No 14

1-Apr-2011

EGYPT

TransGlobe Acquires 100% Of West Bakr Concession From EPEDECO

Calgary-based TransGlobe Energy Corporation on 28 March said it had signed a sale and purchase agreement with Japans Egyptian Petroleum Development Company (EPEDECO) for 100% of the West Bakr concession, subject to the approval of the Egyptian government. TransGlobe said the agreement was an all cash deal worth $60mn effective 1 July 2010 for three fields with 28...