Egypt’s Ministry of Petroleum vowed to allow British Gas Group (BG), now a subsidiary of Shell, to export liquefied gas through the infrastructure of the Abu Dhabi Company for Onshore Petroleum Operations (ADCO), reported Daily News Egypt. The ADCO receives 1.13bcf/d of gas.
The decision comes after BG informed Egyptian General Petroleum Corporation (EGPC) that work on the 9B phase of the Borollos field would resume if the company was allowed to export 100cf/d to 150cf/d of gas and increase the price of gas.
BG halted work and withdrew its oil drill from the field in February due to the Egyptian’s government’s failure to pay the money due to the company. The ministry informed BG that the payment of their dues is subject to the Central Bank of Egypt’s (CBE) decision to allocate the required funds.
In regard to the gas price, the ministry asserted that it will not exceed $5.88 per 1m thermal units.
The total production of the Borollos and Rosetta gas fields is estimated at 700mcf/d of gas. The fields produced 850mcf/d during 2015.