Egypt: DEA farms out part of West Nile Delta project
- 30 May 2015
| 1 minute read
Germany’s DEA has sold part of its stake in the West Nile Delta (WND) project to operator BP to better balance its portfolio. The deal includes the sale of part of DEA’s stake in the ongoing Phase 1 development of 5tcf of gas resources. DEA retains 17.25% in the North Alexandria and West Mediterranean Deepwater concessions, making WND still the largest project in its portfolio. The $12bn WND project is due to start production in 2017, producing 1.2bcf/d of gas, which represents some 25% of Egypt’s current gas production.
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