RWE ups Egypt budget

RWE Dea plans to invest $315 million in its Egyptian operations, a 20% increase on last year's budget.

Offshore staff

HAMBURG --RWE Dea plans to invest $315 million in its Egyptian operations, a 20% increase on last year's budget.

One of the main investment projects is the North Idku gas field development, northeast of Alexandria and 30 km (18.6 mi) offshore the Mediterranean coast. Construction of the two platforms to develop the reservoir should start this fall, with completion expected next spring.

Development and production is managed by North Idku Petroleum Co. (Nipetco), a joint venture between Egyptian Natural Gas Holding Co. (EGAS), Egyptian General Petroleum Corp. (EGPC), and RWE Dea.

05/12/2009

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