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FINANCIAL NEWS
General Petroleum Co. to invest USD 127mn in Egypt
22 Mar 2016
(MENAFN) The General Petroleum Company started to apply methods to implement the projects in the eastern desert fields, in collaboration with the Kuwait Gulf Oil Firm at USD 127mn.
Moreover, the project will start by July 2017, which will treat harmful emissions was supposed to be applied in 2009, after actions were finished and a deal was signed with Kuwaiti Co.
Additionally, the project will collect almost 15m cubic feet of gas and then pump it into the plant to generate butane derivatives and other gases to be moved to the national gas network.
The firm will implement the treatment plant, which introduces an economic value for the exploitation of gas that burns in the air and will produce high-quality petroleum products.
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