Apache Acquires 50% Of Global's East Beni Suef Concession
On 14 February, Apache Corporation of Houston announced that it had acquired from Global Natural Resources, also of Houston, a 50% interest in the 6.8mn-acre (27,600-sq. km.) East Beni Suef concession in Egypt's Nile Valley. The agreement, which is contingent upon approval from the Egyptian General Petroleum Corporation (EGPC), raises Apache's stake in Egypt to 9.2mn gross acres (37,230...