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Sipetrol Disposes of 50% interest in North Bahariya, Western Desert, Egypt.

Egypt

March 12, 2009

Sipetrol, part of Chilean State-owned oil group ENAP, announced on 11 March 2009 it had closed the sale of 50% in oil blocks North Bahariya in Egypt for USD 65.5 million (EUR 1.2m), ADP News reported.

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Stellar acted as advisors to Enap Sipetrol.