VOL. XLIII
No. 18
1-May-2000
ALGERIA
Sonatrach Acquires 40% Of Arcos Stake In Rhourde El Baguel
Sonatrach Chairman Abdelhak Bouhafs announced on 18 April that the Algerian state-owned oil and gas concern has signed an agreement with Atlantic Richfield Company (Arco) to acquire 40% of the US firms 49% interest in the Rhourde El Baguel concession for an estimated $350mn, raising Sonatrachs stake in the concession to 71%. Mr. Bouhafs said that negotiations were accelerated at Arcos request in order...
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