SDX Fails to Reach Deal with BP on Egypt Assets

published:21/10/2018 05:24 GMT

North African-focused oil and gas company SDX Energy said on Thursday that talks to buy some of BP's Egyptian assets have been abandoned. Reuters reported earlier in the year, citing banking sources, that BP is seeking buyers for its stake in a 50-year-old oil and gas business in Egypt, then estimated to be worth around US$500 million. "Discussions regarding its proposed acquisition of a significant package of assets in Egypt from BP have been terminated by mutual agreement," SDX said in a...More