Egypt: Government improves RWE-Dea terms

The government has agreed more price increases for international oil companies selling into the domestic market. Under an agreement signed by the Ministry of Petroleum and Mineral Resources on 23 March, RWE-Dea will be paid 40% more for natural gas extracted in the Nile Delta Disouq development. In return for a price rise from $2.50/mBtu to $3.50/mBtu, the German company will increase its average output from Disouq to 210mcf/d by mid-2015, from 145mcf/d; production should then rise to 300mcf/d by mid-2016, the ministry said.