Egyptian gas drilling project awards underwater cable contract
The Nexans unit of the Alcatel corporation has announced that it has won on a 23 million euro contract from Egypt's Burullus Gas Company to supply and install undersea power and umbilical cables.
Installation should be completed by the beginning of 2003. Burullus Gas is 50 percent owned by the Egyptian General Petroleum Corp, with British Gas Egypt SA and Edison Gas International each holding a 25 percent stake.
In 2000, the company successfully drilled the Simian-2 and Simian-3 wells, located northeast of Alexandria, to appraise the Simian field, which was discovered in deep waters of the Nile Delta in 1999. Both wells confirmed the extent of the Simian field, indicating the project should move ahead toward an operational stage.
Formed from Alcatel Cables and Components, Nexans ranks among the top three in the cable industry. Nexans product portfolio includes an extensive range of cables and system. Operating in 20 countries, Nexans employs 18,500 people and in 2000 its sales reached 4.8 billion euros. – (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)