Executives said BP and RWE Dea intend to develop gas fields in the North
Alexandria and West Mediterranean Deep concessions in Egypt's Nile Delta
offshore, Middle East Newsline reported.
They said the project would begin production in 2014.
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RWE said the share of its reserves was more than 50 billion cubic
meters. The company, which holds 13 concessions in Egypt, said most of the
funds would be spent on North Alexandria.
BP already has a major stake in Egypt and plans to expand this over the
next five years. Executives expect the project to exceed more than three
billion cubic meters per year.