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The supply deal, signed at an international
investment conference in the Sharm El-Sheikh resort, will help
Egypt as it tackles its worst energy crisis in decades.
Rising energy consumption and decreasing production have turned
it from a net energy exporter to a net importer in the last few
years and caused persistent blackouts.
BP has said that production from the project was expected to
reach up to 1.2 billion cubic feet a day, equivalent to about 25
percent of Egypt's current gas production.
BP said it had about 65 percent equity in the project
partnership. Production is expected to start in 2017.
(Writing by Michael Georgy, editing by William Hardy)
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