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Monday, October 18, 2010     GET REAL

BP plans $9 billion development in Nile Delta

CAIRO — BP has drafted a $9 billion plan to develop natural gas fields in Egypt.

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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.



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