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BG.. Current and Future Plans for Gas Development and Production in the Mediterranean
5/24/2011
On 23/5/2011, Eng. Abdallah Ghorab, Minister of Petroleum and Mineral Resources, met with Eng. Sami Iskander, BG Executive Vice President & Regional Director for Africa, Middle East and Asia, where they discussed present and future gas development and production projects in the Mediterranean.  

After the talks, Eng. Sami Iskander announced that current and future projects' investments of BG and its partner the Malaysian, Petronas, are about $2.5 billion for developing the company’s projects at its concession areas.  He added that the company’s gas fields total production represents 35% of Egypt's total natural gas production.
Also, he emphasized that Egypt is considered an excellent investment opportunity for the company, which is one of the first to conduct gas exploration, and production operations in the Mediterranean Sea deep water. Moreover, the company’s technical studies indicate the availability of huge, untapped amounts of gas.  In addition, the company plans to implement new phases of development in West Delta Deep Marine concession areas (WDDM) along with drilling 2 exploratory wells in its concession areas, according to the new agreements in Manzala marine area , with investments of $50 million in the present year, together with drilling another exploratory well in El-Burg Offshore area, with investments of $200 million, late next year.   
Also he stressed on the company's commitment to invest in Egypt, considering that 90% of the company's workforce is Egyptian who acquired the unique experience in the field of drilling and wells development and deep water production



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