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…
BP Increases West Nile Delta Project Stakes
BP Egypt has announced today the completion of its acquisition of 22.75 per cent in the North Alexandria Concession and 2.75 per cent in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG. The acquisition will bring BP’s working interest in both concessions of the West Nile Delta project to 82.75 per cent. The West Nile Delta project agreement, concluded in March 2015…
Egypt Inks LNG Deal with BP
Egypt has agreed a liquefied natural (LNG) supply deal with British oil major BP through 2015 and 2016, but for less than first proposed, Egyptian officials and trade sources said. BP will supply 16 cargoes under a deal with the state-run Egyptian Gas Holding Company, or EGAS, compared with the initially agreed 21 cargoes. This deal was meant to form part of a major tender Egypt awarded in January to buy 70 LNG cargoes…
BP in Second Egypt Find
BP Egypt announced today another important gas discovery in the North Damietta Offshore Concession in the East Nile Delta. The “Atoll-1” deepwater exploration well, currently being drilled using the 6th generation semi-submersible rig “Maersk Discoverer,” has reached 6,400 metres depth and penetrated approximately 50 metres of gas pay in high quality Oligocene sandstones. Expected to be the deepest well ever drilled in Egypt…
BP Reports Another Gas Find off Egypt
BP has made a second large gas discovery off Egypt as part of a concession estimated to contain more than 5 trillion cubic feet, the energy company announced on Monday. BP Egypt's Atoll-1 is a deepwater exploration well located around 80 kilometres north of Egypt's Damietta and is the country's deepest well ever drilled, BP said. The company drilled the well at 6.4 kilometres depth and expects to go another kilometre deeper.
BP to Invest $12 bln in Egypt, Boost Gas Supplies
British oil major BP plans to invest more than $12 billion in Egypt over the next five years, and to double its gas supplies to the local market in the next decade, the country manager of BP Egypt said on Tuesday. "BP is committed to unlock Egypt's oil and gas potential and gradually double its gas supply during this decade. This will be achieved by injecting more than $12 billion in the next five years…
