No 47



Teikoku Farms In To Devon Gulf Of Suez Blocks

Japans Teikoku Oil announced on 17 November it had agreed to farm into two of Devon Energy Corporations Gulf of Suez blocks. Teikoku will take up a 30% stake in both the 40.8 sq km Khaliq al-Zait block and the 245 sq km South East July block, the company said in a statement, leaving Devon with a 70% stake in each block. Teikoku said that the governing contracts with the Egyptian General Petroleum Corporation...