BP Stakes Out Key Role In Egypt’s Gas Renaissance – If The Price Is Right

BP has over the past week held out the prospect of developing up to 17tcf of gas reserves offshore Egypt.

BP followed up the long-delayed sanction of the 1.2bn cfd, $12bn West Nile Delta (WND) project by this week touting the potential of developing a further 5 tcf-plus of gas reserves in deep strata further east on the North Damietta concession.

The initial WND plans involve developing 5 tcf of gas and 55mn barrels condensate reserves on the North Alexandria (BP 60%, Dea 40%) and West Mediterranean (BP 80%, Dea 20%) concessions (MEES, 6 March). The firm also, when announcing project sanction on 6 March, held out the “potential through further exploration to add a further 5-7 tcf”. (CONTINUED - 1176 WORDS)

DATA INSIDE THIS ARTICLE

table No Longer Fixed? Egypt’S Gas Price* ($/Mn Btu)