BP Inks Concession Amendments with Egypt

BP has signed amendments to the Temsah, Ras El Barr and Nile Delta Offshore concessions in Egypt, allowing for the development of the Nooros field, the company said on Tuesday.

"BP is proud to progress the acceleration of its drilling activities in the three concession areas. The conclusion of these amendments was a critical milestone that allowed the discovery and fast track development of the Nooros field," Hesham Mekawi, BP's North Africa chief said in a statement.

Noroos achieved in September a record production of 700 million standard cubic feet per day, the company said, and is targeted to reach 88 million standard cubic feet per day by early 2017.

Reporting by Ahmed Aboulenein