The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) on Sunday signed a memorandum of understanding with BG Egypt worth 4 billion dollars with the aim to increase production and explore gas in the Delta region.
The agreement was signed on the sidelines of Egypt Economic Development Conference (EEDC) in Sharm el Sheikh.
Under the agreement, BG will continue to develop the West Delta Deep Marine concession and study future projects to support sustainable stability of natural gas resources in Egypt, said Petroleum Minister Sherif Ismail.