BG Egypt: Off shore field produces its first gas

CAIRO: The British gas firm BG Group in Egypt says it has started pumping gas from its Sequoia subsea development, part of its offshore Nile Delta gas-producing area, 90 kilometers from the Mediterranean coast.

The six new subsea wells shall contribute to the Egypt's long-term domestic and export energy requirements, Tim Blackford, the group's head said in a statement Sunday.

He added that the development represented a $1 billion investment, which has been delivered ahead of schedule and under budget.

The London-based BG Group PLC is is active in 27 countries on five continents.

It accounts for about 15 percent of Egypt's total foreign direct investment and 40 percent of its gas output. - AP

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