First the wheat, then the cotton and now the GAS!! What next!!!

The Ministry of Petroleum has reached a major deal on petroleum exploration and drilling with British Petroleum (BP), in a move that some are calling the biggest foreign contract of the past three decades.

This agreement gives BP full rights to production in the North Alexandria field until investment costs are covered.

This agreement will put Egypt on the list of gas-importing countries for the first time since gas exploration and production began.

The agreement grants the General Petroleum Authority first purchasing rights at a price agreed to by both parties and pegged to international oil market prices.