WESTCOAST <WTC> TO ACQUIRE AGIP PROPERTIES Westcoast Transmission Co Ltd said it agreed to acquire the Western Canada oil and gas reserves and properties of AGIP Canada Ltd, a subsidiary of AGIP SpA, part of Italy's ENI group, for 54 mln Canadian dlrs. At the end of 1986, AGIP Canada reported proven and probable reserves of 4.2 mln barrels of crude oil and natural gas liquids and 22.7 billion cubic feet of natural gas. AGIP Canada also holds 176,000 net exploratory acres in Western Canada. Its properties produce about 1,100 barrels of oil a day. The deal is subject to approval by both companies' directors. Westcoast said the acquisition would enable it to apply more than 150 mln dlrs of accumulated tax pools of AGIP Canada Ltd to enhance after-tax cash flow from the acquired properties. AGIP Canada said it would retain offshore exploration blocks in Labrador, a gold mine in Yukon Territory and uranium interests in Saskatchewan.