Italy’s Edison to carry out 2nd phase of offshore Abu Qir gas field
Eni's Bouri Offshore oil terminal is seen off the Libyan coast, in the Mediterranean sea, Tuesday, Aug. 1, 2015. The Italian energy company announced it has discovered a "supergiant" natural gas field off Egypt, describing it as the "largest-ever" found in the Mediterranean Sea. (AP Photo/Gregorio Borgia)

CAIRO: The Egyptian General Petroleum Corporation inked a cooperation agreement with Italy’s Edison International to develop the second phase of the offshore Abu Qir gas field, Youm7 reported Saturday.

The signing of the $220 million worth agreement to develop the largest gas field in the Gulf of Suez region was attended by Tarek al Molla, Minister of Petroleum and Mineral Resources.

The deal involves a daily production rate estimated at 150 million cubic feet of gas and six million crude oil barrels, according to al Molla.

Abu Qir was the first gas field developed in the Egyptian Mediterranean and since 1979; it has served the domestic market’s growing demand for gas.

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