BP Reports Two Gas Discoveries Offshore Egypt

BP Egypt today announced the Taurt North and Seth South gas discoveries in the North El Burg Offshore Concession, Nile Delta. These are the fourth and fifth discoveries made by BP in the concession following Satis-1 and Satis-3 Oligocene deep discoveries and Salmon-1 shallow Pleistocene discovery.

The two wells were drilled by IEOC on behalf of concession operator BP, using Scarabeo IV rig in water depths of 110 and 78 meters respectively. The wireline logs, fluid samples and pressure data confirmed the presence of gas in one Pleistocene interval in Taurt North and two Plio-Pleistocene intervals in Seth South. Options to tie both discoveries to nearby existing infrastructure are being studied.

Hesham Mekawi, President and General Manager of BP Egypt stated, “The discoveries show our commitment to develop the remaining potential of the shallow reservoirs within the Nile Delta and make the best use of the existing infrastructure. It demonstrates the ongoing cooperation with the Ministry of Petroleum to deliver new gas discoveries and incremental supply to meet the future growth of the gas business in Egypt.”

The parties to the North El Burg Offshore Concession agreement are: BP (operator 50%) and IEOC (50%).

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Press Release, August 27, 2012