Apache Corp, Dana Petroleum and Merlon International will explore for oil in Egypt's western desert under deals signed with the government on Thursday, state news agency MENA reported.
Apache and Dana will drill five exploratory wells
State-run Korea National Oil Corporation ruled out raising its $2.6 billion hostile bid for Dana Petroleum after winning the backing of half the UK oil explorer's shareholders but needs more deals to reach its output goals.
State-run Korea National Oil Corp (KNOC) made a hostile $2.6 billion cash bid for UK's Dana Petroleum, reflecting South Korea's growing urgency to boost oil reserves.
Seoul gave KNOC a $6.5 billion warchest this year to