Egypt’s General Petroleum Corporation (EGPC) has inked a cooperation agreement with Italy’s Edison International to develop the second phase of the offshore Abu Qir gas field, wrote Star Africa.

The $220m deal involves a daily production rate estimated at 150mcf of gas and 6,000 barrels of crude, according to Tarek al Molla, Egypt’s Minister of Petroleum and Mineral Resources, Energy Egypt reported.

Abu Qir is the largest gas field in the Gulf of Suez region and it was the first gas field developed in the Egyptian Mediterranean.