Fresh from relatively successful drilling this year, UK major BP signed a memorandum of understanding (MoU) with Cairo on 8 September “to evaluate opportunities for a five-well program at water depth ranging from 300 to 1,500 meters,” in Egypt’s offshore Mediterranean.
“The program is designed to accelerate the development and production of national gas reserves, with the intent of extending the use of existing production facilities in the West Nile Delta,” BP says (CONTINUED - 410 WORDS)