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BP signs Egyptian deal
The Egyptian Ministry of Petroleum and BP Egypt have signed a memorandum of commencement for BP’s new projects in Egypt. The company plans on spending up to $12bn to progress the production of 3bn boe. This will include development of the West Nile Delta (WND) project, exploration and resource appraisal activities, East Nile Delta operations and future activities and Gulf of Suez operations and future activities. The WND project has a target of 5tn cf of gas resources and 55mn barrels of condensate. This major development is expected to reach up to 1.2bn cf/d, equivalent to more than 25% of Egypt’s current production and will be directed in its entirety to the domestic market.
News Item details
Journal title: Petroleum Review
Countries: Egypt -
Subjects: Oil, Exploration and production, Energy policy
