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Thursday, December 11, 2014
More than $12 billion over five years will be spent in Egypt by BP to double its gas supplies to the local market in the next decade. Egypt’s domestic demand is ever growing and a substantial amount of natural gas production that was previously exported has been diverted to the local market.
Hesham Mekawi, BP Egypt’s country manager told attendees at the Mediterranean Offshore Conference (MOC) “BP is committed to unlock Egypt’s oil and gas potential and gradually double its gas supply during this decade. This will be achieved by injecting more than $12 billion in the next five years.” The majority of the investment will be used on developing the West Nile Delta project.
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