Japanese firm to delay start of Egypt oil output to 2012

08 February 2010

Japan's AOC Holdings has said it will delay until May 2012 plans to start commercial crude oil output from Egypt's offshore Northwest October block in the northern Gulf of Suez, Reuters has reported. AOC, the parent of oil and gas development unit Arabian Oil Co, has a 50% stake in the block and state-owned Egyptian General Petroleum Corp holds the remainder. Production from the block had previously been slated for later in 2010.

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