VOL. XLI

No. 44

2-November-1998

EGYPT

Kufpec Gives Up Interest in Amal Concession

The Kuwait Foreign Petroleum Exploration Company (Kufpec) relinquishedits 73.5% stake in the Amal concession in the Gulf of Suez to PICO Petroleum Services, a100% Egyptian-owned private sector company, at the end of last July, according to themonthly al-Bitrul issued by the Egyptian General Petroleum Company (EGPC). Thisdeal raises PICO's holdings in the Amal concession from 13% to 86.5%, while Race Brookretains...