No. 30



Elf Sells Tunisian Interests To Arco

France's Elf Acquitaine agreed on 21 July to sell its subsidiary Elf HydrocarburesTunisie (EHT) to Arco of the US. The purchase agreement includes EHT's 50% holding in theoffshore Ashtart field, the other half of which is held by Tunisia's state-owned oilcompany ETAP. Arco is due to acquire Elf's assets in August pending approval by theTunisian authorities.

The Ashtart field, which lies in 80 ms. of water in the Gulf of...