Apache Corp. announced the acquisition of substantially all of Repsol YPF's oil and gas concession interests in the Arab Republic of Egypt for US$410 million, effective Jan. 1, 2001.
Apache said the acquisition will increase its net production in Egypt by approximately 75 percent and be additive to earnings per share and cash flow per share.
Repsol's properties include interests in seven Western Desert concessions; Apache currently holds interests in six of the seven.
© 2001 Mena Report (www.menareport.com)
