Cairo – Mubasher: German-based DEA Group is planning to invest about $500 million in developing its oilfields in Egypt over the coming three years, Reuters reported on Sunday, citing the group’s CEO Maria Moraeus Hanssen.
The planned amount of investment will be pumped into developing DEA’s oilfields in the West Delta, Desouk, and the Gulf of Suez fields, Hanssen said.
The German energy company has been operating in the field of oil and gas exploration and development in the North African nation since 1974.
DEA is a partner of the British oil industry company BP in the West Nile Delta gas fields.
