Middle East Economic Survey

VOL. LIII

No 30

26-Jul-2010

EGYPT

BP Sells Off Egyptian Assets To Apache To Help Fund Oil Spill Clean Up

BP has agreed to sell off all of its oil and gas operations, acreage and infrastructure in Egypts Western Desert, as well as Canada and Texas, to partly fund the clean-up of its Gulf of Mexico oil spill. On 20 July US-based Apache Corporation agreed to a $7bn deal to acquire assets including all of BPs business concessions in Egypts Western Desert as well as the East...