Special to WorldTribune.com

CAIRO — A Western energy major plans massive investment in Egypt by 2020.

BP has disclosed plans to invest more than $12 billion in Egypt by the end of the decade in an effort to double natural gas supplies. The company said it would focus on meeting the needs of Egypt’s expanding domestic market.

“BP is committed to unlock Egypt’s oil and gas potential and gradually double its gas supply during this decade,” BP Egypt manager Hesham Mekawi said. “This will be achieved by injecting more than $12 billion in the next five years.”

In an address to an energy conference on Dec. 9, 2014, Mekawi cited plans to develop gas reserves in Egypt’s Nile Delta. He did not cite the Egyptian government’s huge debt to BP, which reduced operations for more than a year.

The Egyptian Oil Ministry said the entire debt to foreign contractors, reported at $4.9 billion, would be repaid by June 2015.

  BP plans major investment to double Egypt’s gas reserves, WorldTribune.com