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...