Following BP’s key pledge to invest $12bn in developing the 1.2bn cfd West Nile Delta project, WND partner Dea plans to double onshore gas output by mid-2016.
As part of a deal that will see the price Dea will receive from its Disouq project in the onshore Nile delta rise to $3.50/mn BTU, the German firm will invest $240mn with the aim of more than doubling Disouq output from 140mn cfd currently to 300mn cfd by “the summer of 2016,” Egypt’s oil ministry said in a 23 March statement. (CONTINUED - 449 WORDS)
