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Thursday, 27 October 2016

EGPC signs partnership agreement with Kuwait Energy over Siba Field in Iraq

EGPC signed a partnership agreement with Kuwait Energy over the development of the Siba natural gas field in Iraq, which would see the EGPC receive 20% of the field, according to Reuters which cites a statement by Kuwait Energy. Al Mal puts the EGPC’s partnership stake at 15% of the 555 bcf reserves and 37 mn bbl of condensates. Petrojet is the primary contractor for the project, and has estimated operations of around USD 200 mn. The project is the second partnership between EGPC and Kuwait Energy outside Egypt.

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