VOL. XLIV

No. 23

4-June-2001

EGYPT

Apache Plans Extension Of Khalda Development Lease

Houston-based Apache Corporation on 5 May signed a memorandum of understanding (MOU) with the Egyptian General Petroleum Corporation (EGPC) to extend the term of the companys development lease in the Khalda concession. The agreement calls for Apache to invest $250mn there over the next four years, but the length of time that the term will be extended was not disclosed. The investment will go towards exploration...