BG to invest in Egypt gas production

Egypt

CAIRO, October 15, 2014 – BG will invest $400 million in the Rashid and Burullus offshore gas fields to boost production from 400 mcf to 450 mcf (11 mcm to 13 mcm) per day, according to Ministry of Petroleum spokesperson Hamdy Abdel Aziz, who spoke to the Daily News Egypt on Saturday.

The president of field operator Rashid Petroleum, Mohamed El Masry, was reported as saying that this will increase his company’s production rate in the area to 420 mcm (1.5 bcf) – or approximately a quarter of Egypt’s total daily gas production.

This is being done through development of new wells in both the Rashid and Burollus fields, and an agreement to link 10 wells from the BP owned Alexandria Burullus gas processing station.

The development of these wells is expected to be completed in 2017, and bring 280 mcm (1 bcf) of gas production online.

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