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Apache Corp And Sinopec International Petroleum Exploration and Production Corporation Enter Upstream Oil And Gas Partnership


Thursday, 29 Aug 2013 07:29pm EDT 

Apache Corp and Sinopec International Petroleum Exploration and Production Corporation announced they have launched a global strategic partnership to pursue joint upstream oil and gas projects. As the first step in this partnership, Apache will receive $3.1 billion in cash, subject to customary closing adjustments, in exchange for Sinopec gaining a 33% minority participation in Apache's Egypt oil and gas business. Apache will continue to operate its Egypt upstream oil and gas business. 

Company Quote

63.22
1.07 +1.72%
10:04am EST