BG Sanctions WDDM Phase 9a Following Payments Deal
UK firm BG (50% and operator) and its partner Malaysia’s Petronas (50%) have sanctioned the next $1.5bn development phase, Phase 9a, of their giant West Delta Deep Marine development offshore Egypt.
This follows a payments schedule the two firms last month agreed with Cairo for revenues owed by state firm EGPC. BG was owed $1.3bn as of end-2012 of which it considers $600m...