Amoco/ENI Conclude Gas Sales Agreement With Egypt
Amoco and the ENI/Agip subsidiary International Egyptian Oil Company(IEOC) on 11 October signed a sales agreement for the supply of gas from the Timsah fieldin the Nile Delta offshore for Egypts local market. Field development costs forTimsah will be around $700mn, with gas deliveries expected to begin at a rate of 35mn cu.ft./d in the second half of 1999, rising to 480mn cu. ft./d by 2003. Timsah has proved...