BP Picks Up 2 Exploration Blocks in Nile Delta Offshore Egypt

BP has announced that the Egyptian Natural Gas Holding Company (EGAS) has awarded the company two blocks in the 2008 International bid round on the Egyptian Offshore Nile Delta.

Block 2

North Tineh Offshore is in a deepwater offshore area of the Nile Delta. The North Tineh block is located about 60 kilometers north of Port Said City and covers an area of approximately 2400 square kilometers in water reaching a depth of 1000 metres. BP is committed to drilling three exploration wells over two phases totalling six years. BP will operate North Tineh block with 100% working interest.

Block 3

North Damietta Offshore, which is adjacent to Block 2, covers an area of around 1600 square kilometers and carries a commitment of drilling four exploration wells over six years. BP will operate North Damietta Offshore block with Shell and Petronas with one third working interest each.

Hesham Mekawi, President of BP Egypt, commented, "Over more than 45 years of working in the country, Egypt continues to grow in importance for BP. Our expertise and latest technologies will be deployed for mutual benefit in these new blocks. BP is very pleased to have been awarded these two blocks, which transform BP's gas exploration opportunities in the Nile Delta and increase BP's options for further significant growth. The new partnership that has been created also brings together companies with great technical capabilities to meet the challenges of exploring for high pressure gas resources in the deep water Nile Delta."
 

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