CAIRO: BG Group plans to invest in a number of development and exploration activities in Egypt during 2011, including Phase 8b, a development project targeting the West Delta Deep Marine Concession offshore the Nile Delta, according to a statement.
This development phase will bring onstream seven additional wells thus increasing the country’s gas output and ensuring BG Egypt continues to meet its contracted gas commitments, the company said during a meeting with the Prime Minister.
Prime Minister Essam Sharaf met with BG Group Chief Executive Frank Chapman as well as BG Group Executive Vice President and Managing Director for Africa, Middle East and Asia Sami Iskander and BG Egypt President Arshad Sufi.
Chapman stressed BG’s long-term commitment to investment in Egypt, which he called a key part of BG Group global portfolio, according to a statement.
In 2010 and 2011 BG Group has, with its partners, invested in West Delta Deep Marine development Phases 7 and 8a.
In over 22 years of working in the country, BG Group has invested with its partners over $10 billion in Egypt’s energy sector.
BG plans to drill further wells in its exploration Concessions El Manzala Offshore and El Burg Offshore in 2011 and 2012. In October 2010, BG Egypt had carried a 3D Seismic survey over its third exploration concession, North Gamasa Offshore.
