BP has made a significant discovery in the King Mariout block offshore Egypt, international media reported on Thursday.
The discovery in the country’s northern Mediterranean waters was announced by Egyptian Prime Minister Mostafa Madbouly, who was quoted by news outlet Caliber.
The discovery is located close to BP’s existing West Nile Delta infrastructure.
Drilling activity in Egypt’s Mediterranean waters has experienced an uptick in the past year with ExxonMobil, Chevron and Eni all active – with BP also undertaking drilling at its Raven field.
BP has operated in Egypt for almost 60 years. It operates the USD 9-billion West Nile Delta gas development with an 82.75% stake. The company is also a partner in the East Nile Delta licence. Together, the projects contribute around 60% of Egypt’s natural gas output.
Source: theenergyyear.com