BP agrees new concession amendments in Egypt

BP agrees new concession amendments in Egypt

Sep 28, 2016
3 min read
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UK's BP has signed concession amendments for the Temsah, Ras El Barr and Nile Delta Offshore concessions in Egypt with the Egyptian Minister of Petroleum Eng. Tarek El Molla.

These amendments allow for the economic development of the Nooros development, where BP recently achieved record production.

Hesham Mekawi, regional president, BP North Africa commented: “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 in the Nile Delta offshore concession which this month achieved record production of 700mmscfd and is targeted to reach 880mmscfd by early 2017. BP will also drill additional wells in Ras El Barr and Temsah areas that are expected to bring significant gas to the Egyptian domestic market.”

BP holds a 50 per cent interest in Temsah and Ras El Barr, and a 25 per cent interest in the Nile Delta Offshore Concession. The remaining working interest is held by ENI through its subsidiary IEOC.

BP has had quite a bit of success in Egypt recently and in June of this year, BP announced an important gas discovery in the Baltim South Development Lease which was immediately appraised by another well Baltim SW-2. This appraisal well encountered a gas column of 102 metres overall and 86 metres net within two sand layers of Messinian age rock holding excellent reservoirs.

BP and its partner ENI are already working on the development options for this discovery.

Mekawi added: “We are pleased with the results of the Baltim SW-2 well as it 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 Baltim South West discovery, and expedite early production start-up.”

BP holds a 50 per cent stake in the Baltim South Development lease, and ENI, through its subsidiary IEOC, holds 50 per cent.