DUBAI (Zawya Dow Jones), Aug. 10, 2009
BG Egypt, a subsidiary of UK-based BG Group, started Saturday gas production from its Sequoia subsea development.
The project, located 90 kilometers in the Mediterranean Sea, represents a $1 billion investment and was delivered six months ahead of schedule, BG Egypt said in a statement Sunday.
BG Group, which holds a 62.99% unit interest in Sequoia, said the project brings into production six new subsea wells, three located in each of the concessions, which will help maintain overall plateau production.
Copyright (c) 2009 Dow Jones & Company, Inc.
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