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BP agrees to sell its Egyptian Oil assets to Dragon Oil
June 4, 2019
Source: Al Arabiya

BP agrees to sell its Egyptian Oil assets to Dragon Oil

For an undisclosed sum, BP has agreed to sell its interests in the Gulf of Suez oil concessions in Egypt to Dragon Oil based in Dubai. As per the agreement, Dragon Oil will purchase exploration and production concessions, including BP’s assets in GUPCO (Gulf of Suez Petroleum Company). BP’s CEO said in a statement, “Egypt is a core growth and investment region for BP”.

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