VOL. XXXVII

NO. 7

15-NOVEMBER-1993

Egypt

Repsol ToPurchase Phillips' Shares In Umbaraka And South Umbaraka Tracts

According to Dr.Wafiq Mishrif, EGPC Deputy Chairman for Agreements, Repsol of Spain has agreedto purchase Phillips' shares in the Umbaraka and South Umbaraka permits inEgypt's Western Desert. The Umbaraka permit is currently held 30% by Repsol and70% by Phillips and the South Umbaraka permit is held 50% each by Repsol andPhillips. The EGPC has a 50% interest in the development leases...