Egypt Approves MIGA Request to Insure Apache Corp. Investments

Egypt’s Cabinet approved a request by the Multilateral Investment Guarantee Agency to insure Apache Corp. (APA)’s investments in Egypt, Egyptian International Cooperation and Planning Minister Fayza Aboulnaga said.

MIGA, a member of the World Bank Group, will provide $250 million in insurance for the Houston-based company’s oil and gas investments in the North African country, Aboulnaga told reporters in Cairo today.

To contact the reporter on this story: Abdel Latif Wahba in Cairo at alatifwahba@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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