BP Finalizes WND Purchase

BP this week finalized the expansion of its stake in the key fields that make up Egypt’s 5 tcf West Nile Delta project. BP takes 22.75% of the North Alexandria block and 2.75% of the West Med Deepwater concession from its partner Dea taking its stakes to 82.75% of each. The $12bn WND project is the second key element, alongside Eni’s 23 tcf Zohr development, in Egyptian plans to boost gas output towards the end of the decade. WND is slated for H1 2017 start up, ramping up to 600mn cfd by the end of the year and 1.2bn cfd – the equivalent of more than a quarter of Egypt’s current 4.3bn cfd gas output – by the end of 2019 (MEES, 30 October). (CONTINUED - 117 WORDS)