BG in Negotiations with Egypt over Burullus Fields

BG in Negotiations with Egypt over Burullus Fields
Offshore drilling rig

British Gas (BG), a subsidiary of Shell, informed that work on the 9B Phase in the Burullus fields in the Mediterranean Sea would be resumed if the Egyptian General Petroleum Corporation (EGPC) allowed BG to export 100-150mcf/d of natural gas, approved gas price adjustments, and scheduled the payment of its dues, Al Borsa reported.

Tarek El Molla, Minister of Petroleum, expressed readiness to allow gas exports but informed the two companies’ negotiators that reviewing prices and adjusting the exploration agreement is now in the hands of the House of Representatives, two sources that are involved with the negotiations between the government, Shell, and BP told Al Borsa.

El Molla did not specify when the government will pay BG’s late dues.

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