Beach Petroleum acquires interest in Gulf of Suez concession

  • Beach Petroleum acquires interest in Gulf of Suez concession

    Beach Petroleum acquires interest in Gulf of Suez concession

    Sunday, 25th May 2008
    Beach Petroleum reports that it has entered into an agreement with Santos Egypt Pty Ltd under which, subject to waiver of pre-emptive rights by the Egyptian General Petroleum Corporation and the approval of the Government of the Arab Republic of Egypt, Beach will acquire, via a farmin arrangement, a 20% interest in the South East July concession, in the Gulf of Suez, offshore Egypt.