LYCOS RETRIEVER 
Egypt: Suez Canal
built 240 days ago
The International Egyptian Oil Company (IEOC), a subsidiary of Italy's ENI-Agip group, is Egypt's leading natural gas producer, operating in the Gulf of Suez, the Nile Delta, and the Western Desert regions. In cooperation with BP Amoco, IEOC has been concentrating its natural gas exploration and development efforts in the Nile Delta region. On November 4, 1997, BP (along with its partners EGPC and IEOC) announced plans to develop the giant Ha'py gas field in the Ras el-Barr concession of the Nile Delta region at an estimated cost of $248 million. The field came onstream in February 2000, and has reached an output of 280 million cubic feet per day (Mmcf/d). In September 1997, IEOC tested the Temsah gas field (located offshore from the Nile Delta) at 11.6 Mmcf/d. In October 1998, BP (25 percent owner) and ENI-Agip signed a natural gas sales agreement with EGPC (50 percent owner) and IEOC (25 percent owner) for Temsah.
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Egypt has a reasonably modern telephone service including three GSM mobile service providers. The three mobile phone providers are Mobinil, Vodafone and Etisalat. Principal centers are located at Alexandria, Cairo, Al Mansurah, Ismailia, Suez, and Tanta. Roaming services are provided, although you should check with your service provider. Also, it is possible to purchase tourist mobile phone lines for the duration of your stay, which usually costs around 30le.
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Although Egypt has 2,450 km (1,522 mi) of coastline, two-thirds of which are on the Red Sea, indentations suitable as harbors are confined to the delta. The Isthmus of Suez, which connects the Sinai Peninsula with the African mainland, is traversed from the Mediterranean to the Gulf of Suez by the Suez Canal.
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Egypt's policy of liberal reform led to a restructuring of its economy. In 1991 the government implemented financial stabilization (unifying the rate of exchange, reducing subsidies) and started a program of structural adjustment (privatization and trade liberalization). The economy grew rapidly during the 1990s but stagnated in the early twenty-first century. Per capita GDP skyrocketed, and imports exceeded exports in value by a factor of three to one, but the deficit was made up by remittances, Suez Canal tolls, pipeline fees, and tourism. After the terrorist attack on New York's World Trade Center in September 2001, most of these sources diminished. The trade deficit in the first quarter of 2002 was US$1.6 billion.
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Egypt's nine refineries are able to process 726,250 bbl/d of crude, with the largest refinery being the 146,300-bbl/d El-Nasr refinery at Suez. The government has plans to increase production of lighter products, petrochemicals, and higher octane gasoline by expanding and upgrading existing facilities. There are no new "greenfield" refinery projects under construction as of April 2005, but the Egyptian Ministry of Petroleum is considering one project to be located near Port Said, with a capacity of 200,000-to-300,000 bbl/d, to be co-located with a major petrochemicals complex. If built, it would be primarily an export-oriented facility.
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Egypt is divided for administrative purposes into 26 governorates. The capital and largest city is Cairo; other important cities include Alexandria, the principal port; Giza, an industrial center near Cairo; Port Said, at the Mediterranean entrance to the Suez Canal; and Suez, the southern terminus of the canal.
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