VOL. XLI

No. 47

23-November-1998

EGYPT

Amoco Agrees To Invest $800mn In Egypt

Amoco has agreed to invest more than $800mn in Egypt over the next fiveyears, said Egypts Oil Minister Dr. Hamdi el-Banbi on 18 November following officialceremonies in Cairo to mark the cumulative production of more than 4bn barrels of oil bythe Gulf of Suez Petroleum Company (Gupco). Gupco is a joint venture between Amoco and theEgyptian General Petroleum Corporation (EGPC). Dr. Banbi told reporters that an agreement...