Middle East Economic Survey
Apache Completes BP Western Desert Assets Acquisition
Apache Corporation has completed its acquisition of BPs oil and gas operations, acreage and infrastructure in Egypts Western Desert. Under the $650mn deal the US company acquires four development leases and one exploration concession with combined proven reserves of 20mn barrels of oil equivalent, 59% of which is liquids. The acreage covers approximately 1,596 sq km. The assets...