The Chinese oil giant of Sinopec takes 33% of shares of the Egyptian division of the American Apache for 3,1 billion dollars

The Chinese energy company Sinopec (China Petroleum and Chemical Corporation) will get 33% of actions in oil and gas business in Egypt the American company Apache, reports ITAR-TASS with reference to Xinhua agency.
The transaction cost, which preparation was conducted some months, will make 3,1 billion dollars. The agreement is already signed and has to be approved from government bodies. The successful conclusion of the transaction will allow Sinopec to increase oil outputs to 6,5 million tons per year.
The means received from sale of papers, Apache I intend to direct on repayment of debts and the return repayment of actions worth 30 million dollars of the USA, and also on future expenses within the international projects.