International oil companies are warming up again to the lure of Egypt’s oil and gas potential. Despite receivables edging up since the start of the year, most firms have been keen to highlight the positives as the government attempts to wade through the bureaucratic red tape that has held them back.

UK major BP is increasing its stake in Egypt’s West Nile Delta (WND) gas fields to 82.75% after agreeing to purchase part of its partner, upstream firm Dea’s holdings, in the mega project. (CONTINUED - 1751 WORDS)