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Rashid Petroleum Company (Rashpetco) has awarded Aker Kvaerner a contract to supply five umbilicals to the Rosetta Phase 3 gas development in the Rosetta Concession, offshore Nile Delta, Egypt. The contract is valued at NOK 130 million.
Work has already started on the steel tube umbilicals totalling approximately 43 kilometres in length to be manufactured at Aker Kvaerner Subsea's facility in Moss, Norway. Delivery of the umbilicals is scheduled for the third quarter of 2007.
Rashid Petroleum Company is a public-private joint venture operated by Great Britain-based oil and gas major BG Group, which together with its sister company Burullus Gas Company, operates a network of 34 offshore natural gas wells. The company is the largest upstream natural gas operator in Egypt overseeing over 40% of the nation's daily gas production. Together with BG Group, the Egyptian Natural Gas Holding Company (EGAS) and Edison of Italy are shareholders in Rashid Petroleum Company.
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