Teikoku Farms Into IEOC's West Ashrafi Concession
Under a farm-in agreement concluded in Cairo on 22 January,Epedeco Suez Ltd., a wholly owned subsidiary of Japan's Teikoku Oil Company, acquired a40% interest in the 67-sq. km. West Ashrafi offshore concession in the Gulf of Suez. Theconcession, for which the effective date is 17 January, was won by the Agip subsidiaryInternational Egyptian Oil Company (IEOC) last May. The concession area is located about 4...