Sharkawy & Sarhan advises DEA on the Largest Natural Gas Development Project in Egypt

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Signing of the amendment. Image Source: Masrawy.com

The Minister of Petroleum, Sherif Ismail, signed an amendment to the concession agreements for the development of the North Alexandria and West Mediterranean deep water gas fields. The amendment agreements were signed between the Government of Egypt, the Egyptian General Petroleum Corporation, British Petroleum (BP) and DEA Deutsche Erdoel AG

“This project is considered to be the largest in the oil and gas industry. The project production capacity represents approximately between 1 to 1.2 billion cubic feet per day, which is 25 percent of the current production of natural gas” Sherif Ismail, Minister of Petroleum and Mineral Resources stated on Thursday.

The total investment of DEA and BP will be around 12 billion US Dollars to developm 5 trillion cubic feet of gas resources and 55 million barrels of condensates

Sharkawy & Sarhan advised DEA on the project, the team included Partner Karim Sarhan, Partner Ahmed Haggag and Associate Reham Eissa.

This publication is intended for general guidance only. It is not intended to render professional legal advice. No reader should rely on any information contained in this publication. In case you have any questions on issues reported here please send an email to Chadene El Tarouty (ct@sharkawylaw.com) or Karim Sarhan (ks@sharkawylaw.com)