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Egypt: Chinese buy one-third of the investment Sinopec Apache American oilAugust 30, 2013ShareApache company produces 100,000 barrels of oil a day in EgyptChina Petrochemical Corporation, known as Sinopec to buy 33 percent of the investment company Apache Egypt oil for more than $ 3 billion.Daily production company arrived Apache in Egypt nearly 100,000 barrels of oil and 110 thousand cubic meters of natural gas in 2012.China is the second largest oil consuming States in particular and the wider energy sources in the world, after the United States and relies on oil and gas imports to meet their needs.Apache Corp. said that Sinopec is an important and essential partner for u.s. energy companies and expand its work and its partnership with them in Cairo is a good move for both parties.The company's business is concentrated in Egypt in places uninhabited and are not affected by the current political events in Egypt and the Arab world.Chinese energy companies seeking to secure oil and gas supplies to China as long as the Sinopec Corp. three months ago signed a contract to buy another 10% of Angolan oil field of the marathon of America for $ 1 billion.Two years ago, also purchased Sinopec 5% stake in the same field in Angola from a French company.The Chinese company also signed the same contract earlier this year with Devon America لشراءثلث the rights to explore oil fields in the United States.Sinopec expects Devon more than 125 exploration oil wells this year in the region in which they work within us territory.
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