Thursday 29 September 2016

BP signs three gas drilling deals with Egypt

BP signs three gas drilling deals with Egypt

BP has signed three gas drilling deals with Egypt.

The contracts allow further development of the Nooros gas field, in which record production was recently achieved by BP.

The agreements, signed with Tarek El Molla, the Egyptian Minister of Petroleum, will specifically focus on the Temsah, Ras El Bar and Nile Delta offshore areas.

Hesham Mekawi, Regional President of BP North Africa, said: "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."

In June BP announced another significant discovery of gas in the nearby Baltim South Development, when a gas column of around 102 metres was found within two layers of rock.

BP holds a 50% interest in Temsah and Ras El Barr and a 25% interest in the Nile Delta Offshore Concession. The rest is held by Eni.

Gas potential in the area has now reached around three trillion cubic feet of gas, two thirds of which is in the Nooros field with the remainder from the new find. BP and Eni are already working on the development options for this discovery.

Written by

Bruna Pinhoni

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