BP Egypt makes New Gas Discovery

BP Egypt announced today another important gas discovery in the Baltim South Development Lease in the East Nile Delta.
 
The Baltim SW-1 exploration well, drilled in water depth of 25 metres by operator IEOC (Eni), reached a total depth of 3750 metres depth and penetrated approximately 62 metres of net gas pay in high quality Messinian sandstones. The discovery, which is located 12 kilometers from shoreline, is a new accumulation along the same trend of the Nooros field discovered in July 2015 and currently producing 65,000 barrels of oil equivalent per day. Further appraisal activities will be required to underpin the full resource potential of the discovery.
 
Hesham Mekawi, Regional President of BP North Africa, commented: “We are pleased with the results of the Baltim SW-1 well as it is the third discovery along the Nooros trend and confirms the great potential of the Messinian play and its significant upside in the area.  Our plan is to utilise existing infrastructure which will accelerate the development of the discovery, and expedite early production start-up. This announcement is another example of BP’s commitment to unlock resources in order to bring critical gas production to Egypt.”
 
BP holds a 50% stake in the Baltim South Development lease, and Eni, through its subsidiary IEOC, holds 50%. The well was drilled by Petrobel, a joint venture between IEOC and the state partner Egyptian General Petroleum Corporation (EGPC).