News

British Petroleum Announces New Natural Gas Discovery in Egypt

British Petroleum Announces New Natural Gas Discovery in Egypt

Photo: Getty Images
Photo: Getty Images

British Petroleum Egypt announced in a press release the discovery of a new natural gas field in the Baltim South Development Lease in the East Nile Delta, 12 kilometers from the shoreline.

The field, standing at a total depth of 3,750 meters, was drilled by Petrobel, a joint venture between the International Egyptian Oil Company (IEOC) and state partner Egyptian General Petroleum Corporation (EGPC), according to BP’s press release.

BP holds a 50 percent stake in the Baltim South Development lease, while IEOC, a subsidiary of Italian energy firm Eni, holds the other 50 percent.

Eni discovered the Nooros field in July 2015, which is currently producing 65,000 barrels of oil per day. The new field is an extension of Nooros.

“We are pleased with the results of the Baltim SW-1 well as it is the third discovery along the Nooros trend. Our plan is to utilise existing infrastructure which will accelerate the development of the discovery, and expedite early production start-up. This announcement is another example of BP’s commitment to unlock resources in order to bring critical gas production to Egypt,” BP’s press release reads.

BP’s joint venture company with the Egyptian General Petroleum Company (EGPC), has produced almost 40 percent of Egypt’s entire oil production, and currently produces almost 10 percent of Egypt’s annual oil and condensate.

Egypt Food Aid Convoy Arrives in Besieged Syrian Town
Exploring the Industry Behind Egypt's Colorful Ramadan Lanterns

Subscribe to our newsletter


News

Nayrouz Talaat is an Egyptian journalist and a reporter for many years. She is currently an editor at The Egyptian Gazette newspaper, an ex-contributor to Aswat Masriya English section and Reuters alumni. Nayrouz also loves reading, walking, watching movies and capturing people's stories.

More in News

A snapshot from a video released on Twitter by Ansar Bayt al-Maqdis on August 28, 2014.

Australia Declares ‘Ansar Bait Al-Maqdis’ a Terrorist Organization

Egyptian StreetsDecember 10, 2016
nieuwe-groep-claimt-aanslag-cairo-961x658

Seven Killed in Giza, Kafr El-Sheikh Explosions Targeting Police

Egyptian StreetsDecember 10, 2016
1000_1472412595osama_mursi_22415

Former President Morsi’s Son Arrested

Egyptian StreetsDecember 9, 2016
azzasoliman

Egyptian Women’s Rights Activist Azza Soliman Released on Bail after Arrest

Egyptian StreetsDecember 8, 2016
Credit: Martin Roemers/Anastasia Photo

Professors and Doctors Among 45 Arrested in Egypt Organ Trafficking Ring

Egyptian StreetsDecember 6, 2016
05black

Egypt’s Foreign Reserves Rise to $US 23 Billion

Egyptian StreetsDecember 6, 2016
1200x-1-1024x697-1

Naguib Sawiris Steps Down as CEO of Orascom in Surprise Resignation

Egyptian StreetsDecember 6, 2016
One of the leaked images allegedly from a Heinz Egypt factory.

Senior Heinz Egypt Employee Arrested After 62 Tonnes of Rotten Tomatoes Found

Egyptian StreetsDecember 6, 2016
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2016 ES Media UG. All Rights Reserved.