BP Makes Western Nile Delta Gas Find

BP Egypt has made a new gas discovery in the Western Nile Delta. The Polaris 1 exploratory well is the second discovery in the West Mediterranean Deep Water (WMDW) concession following the Ruby discovery made in 2002 and successfully appraised in 2003. The well is located Northwest of Alexandria, 75 kilometers off the coast of Egypt at water depth of 1162 meters.

The Polaris 1 exploratory well successfully tested and flowed gas at a rate of 26.5 mmscf/d from a Mid - Pliocene age slope channel play at a depth of 2178 meters. The drill stem test (DST) was performed over a zone 42 meters thick containing approximately 19 meters of high quality net gas pay. The well was drilled by Transocean's semisub, Jim Cunningham.

Hesham Mekawi, President of BP Egypt, said: "We are very pleased with the outcome of the well. With Polaris, in addition to Ruby and Raven, we continue our strong track record in new discoveries and gain more confidence in the great exploration potential of the Nile Delta."

BP operates the WMDW concession with an 80 percent working interest while RWE Dea Egypt holds the remaining 20 percent interest in the block.