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Edison is the Likely Winner for Abuquir Gas Field

04-23-2008

Edison and BG were the main competitors for Egyptian gas field's Abuquir exploration license. According to the Egyptian Minister of Oil, Sameh Fahmy, some major international companies participated at the bid offer.  

"Edison may have a very good deal in Egypt soon ... We expect a decision within a few weeks," Fahmy said on the sidelines of the International Energy Forum in Rome.

According to various estimates, Abuquir field reserves amount to between one trillion cubic feet and 2.5 tcf, Egyptian oil officials said.

Export of gas is one of the options for developing the field, Fahmy said.

He said Egypt was in talks with various Italian companies about taking part in projects to build liquefied natural gas (LNG) terminals there, but declined to give details.