Costly BP Project Offshore Egypt Is Reportedly Being Renegotiated

摘要

A major offshore gas project in Egypt operated by BP is facing cost hikes so severe that the UK major is quietly renegotiating the deal with Egyptian authorities, multiple sources tell Energy Intelligence. By reworking the project in a bid to make it more economic, BP risks reopening a series of thorny issues that could stall the planned $9 billion West Nile Delta project even further, such as the price the Egyptian government is willing to pay for gas produced by foreign firms.