Japan buys into Alexandrine fields.(Sojitz Corporation)(Brief article)

MEED Middle East Economic Digest | September 8, 2006 | Copyright

Japan's Sojitz Corporation announced in late August that it had acquired from the US' IPR Group of Companies a 35 per cent stake in two oil fields, 80 kilometres west of Alexandria.

The deal was valued at $14.5 million. Sojitz will invest $16 million over three years and plans to raise production in the fields to 5,200 barrels a day (b/d) from 2,800 b/d, IPR has also announced drilling results for its North Bahariya concession in the Western Desert. Norpetco, the ...

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