Egypt And Libya Set Up First Joint Oil Venture
Egypt and Libya have set up their first joint oil venture within theframework of the agreement concluded between the two countries last year (MEES,2 March 1992). The company, called the United Investment Company, is capitalizedat $50mn, of which 80% is held by the Libyan state-owned Tamoil, 10% by theEgyptian General Petroleum Corporation (EGPC) and 10% by private shareholders inthe two countries. Initially...
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