BP signs Egyptian offshore gas agreement

21 July 2010

Egyptian General Petroleum Corp has signed an agreement with British Petroleum (BP) to develop two offshore gas fields, in the biggest deal for BP since its drilling rig disaster in the Gulf of Mexico, AFP has reported. The deal will develop five trillion cubic metres of gas from the North Alexandria Deepwater block and the Western Mediterranean block. The fields will produce 900 million cubic metres of gas a day starting from 2014, according to the Egyptian Petroleum Ministry said.

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