AMOCO ACQUIRES BP STOCK IN EGYPT

AMOCO ACQUIRES BP STOCK IN EGYPT

Amoco Corp. said last week that it had acquired the stock of BP North America's exploration operations in Egypt.

The deal gives Amoco a 25 percent working interest in the Nile Delta Concession, which contains the El Qar'a field.El Qar'a produces 140 million cubic feet of natural gas and about 4,000 barrels a day of liquids such as liquid petroleum gas.

The new Amoco subsidiary formed by the deal also will have an interest in the El Qar'a liquid petroleum gas processing plant, and exploration rights to three other areas.

Terms of the transaction, completed Sept. 15 between the Chicago's Amoco Production Co. and BP North America Exploration Overseas Inc., were not disclosed.