Soaring Costs Force BP Egypt Rethink

摘要

BP is quietly renegotiating a major Egyptian offshore gas project because of soaring development costs, industry sources tell WGI. The UK major's West Nile Delta (WND) project was initially supposed to begin producing next year, with 1 billion cubic feet per day (10.4 billion cubic meters per year) of gas expected by 2015, but it will now start up at least three years late. The scheme is intended to ease domestic gas shortages, and the longer BP's negotiations with state-owned Egyptian Natural Gas Holding Co. (Egas) drag on, the harder it may be for Egypt to maintain its status as an LNG exporter.