More gas found offshore northern Egypt, says BP

Offshore staff

CAIRO – BP Egypt has achieved its third gas discovery in the North El Burg concession in Egypt’s Nile Delta offshore region. The previous finds were the Satis-1 and Satis-3 Oligocene deep gas accumulations.

Salmon, drilled by BP’s partner IEOC using the Scarabeo IV, was discovered 50 km (31 mi) north of Damietta. Wireline logs and pressure readings confirmed the presence of gas in two shallow Pleistocene intervals. The well was drilled in water depths of 87 m (285 ft) and reached a TD of 1,600 m (5,249 ft). Further appraisal is under way to evaluate the resources.

Hesham Mekawi, president and general manager of BP Egypt, said: "The success of Salmon highlights the great potential of the shallow reservoirs within the Nile Delta, and helps unlock additional resources in surrounding acreage."

BP was awarded operatorship of the North El Burg offshore concession in June 2005. It lies in water depths of 60-100 m (197-328 ft), between the Ras El Barr BP-operated development concession and IEOC’s Offshore Baltim development concession.

In a separate development, BP has contracted Maersk Drilling’s ultra-deepwater semi Maersk Discoverer to work initially offshore Egypt.

The firm contract duration (maximum value $780 million, including mobilization) is for four years, with an option for a further year. It should start next spring.

10/25/2011



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