Production at the second phase development of the West Delta fields, which will include the Giza and Fayoum fields, is expected to begin in 2018, Oil Minister Tarek El Molla said on Wednesday. The remarks came during a meeting with Thomas Rappuhn, CEO of Germany’s DEA, which owns a 17.25% share in the project. Production had initially been slated for 2019. Separately, El Molla met with Malaysian company Petronas' Vice President Adnan Zainal Abidin to discuss the company’s projects in Egypt. Petronas and Royal Dutch Shell will begin work on phase 9B of the Borollos gas field in 4Q2017, after having halted work last year over disagreements on prices with the government.
More from Enterprise
Our friends at EFG Hermes and Beltone pick up fresh accolades, along with CIB
EFG Hermes retained the top corporate access spot on Extel’s…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Inside the retail wave reshaping EGX
Individuals are setting EGX prices day to day, trading on…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…