Apache, Sinopec complete Egyptian deal

Apache Corp. has completed its sale to Sinopec International Petroleum Exploration & Production Corp. of a one-third interest in its Egyptian oil and gas business.

Apache Corp. has completed its sale to Sinopec International Petroleum Exploration & Production Corp. of a one-third interest in its Egyptian oil and gas business (OGJ Online, Aug. 30, 2013).

After closing adjustments, Apache received $2.95 billion in cash. It will remain operator of the interests, which cover 9.7 million gross acres, mostly undeveloped.

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