Egypt: EBRD considers loan for Kuwait Energy

The European Bank for Reconstruction and Development (EBRD) is considering providing a reserve-based loan of up to $100m to Kuwait Energy International to help finance its development operations at the Abu Sennan, Area A, Burg El Arab and East Ras Qattara fields in Egypt. The project supports the development of Kuwait Energy’s Egyptian operations including measures and investments in associated petroleum gas-flaring prevention and recovery. The projected cost of the development plan is $160m.