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Published in TZ Latest News 6 March, 2015 by The TZ Newswire Staff

BP and partners to invest $12 billion in Egypt Gas deal

LONDON/CAIRO (Reuters) – British oil company BP (BP.L) expects to invest around $12 billion with its partners as part of a finalised West Nile Delta concession deal to develop 5 trillion cubic feet of gas resources and 55 million barrels of condensates. The supply deal will help Egypt as it tackles its worst energy crisis in decades. Rising energy consumption and decreasing production have turned it from a net energy exporter to a net importer in the last few years and caused persistent blackouts.

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