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

Saudi MFA: Temporary Umrah Pilgrimage Ban Due to Coronavirus Fears

Egyptian StreetsFebruary 27, 2020

VAT Increases on Local, Imported Tobacco Products

Egyptian StreetsFebruary 26, 2020

Three Days of National Mourning Declared Across Egypt to Mark Mubarak’s Death

Egyptian StreetsFebruary 25, 2020

Military Funeral to Be Held Tomorrow For Former President Mubarak

Egyptian StreetsFebruary 25, 2020

Former Egyptian President Mubarak Passes Away Aged 91

Egyptian StreetsFebruary 25, 2020

Egyptian Woman Receives 1 Million EGP Compensation Over HIV Transmission From Husband

Egyptian StreetsFebruary 24, 2020

Egypt to Propose New Strict Penalties for Female Genital Mutilation

Egyptian StreetsFebruary 22, 2020

UAE Honors Sir Magdi Yacoub and Donates 360 Million for New Cairo Heart Center

Egyptian StreetsFebruary 22, 2020