Chinese state-owned firm North Petroleum International (NPI, also known as Zhenhua Oil), last April quietly entered Egypt – the first Chinese state firm to do so – buying the Egyptian producing assets of Greek firm Vegas.
The two companies have said little on the transaction, but MEES analysis of partner companies’ filings suggests a price of around $750mn for net output of around 8,000 b/d and 45mn cfd of gas across three concessions, two of which the Chinese firm now operates. (CONTINUED - 376 WORDS)
