Chile’s ENAP to build $30 mln oil pipeline in Egypt

SHARM EL SHEIKH, Egypt (Reuters) – A subsidiary of Chile’s state oil company ENAP will invest $30 million to build a 90 km oil pipeline in Egypt’s Western Desert, the country’s ambassador told Reuters at an international conference on Friday in the Red Sea resort of Sharm El Sheikh.Jose M. De la Cruz said the pipeline would allow the company to extract oil from a new discovery west of Cairo and sell it to the Egyptian government which is facing a severe energy crunch.