BP to acquire additional interest in the West Nile Delta project
BP Egypt has announced today the completion of its acquisition of 22.75 per cent in the North Alexandria Concession and 2.75 per cent in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG. The acquisition will bring BP’s working interest in both concessions of the West Nile Delta project to 82.75 per cent.
The West Nile Delta project agreement, concluded in March 2015, involves the development of 5 trillion cubic feet of gas resources and 55 million barrels of condensates. Production from WND is expected to be around 1.2 billion cubic feet a day (bcf/d), equivalent to about 25 per cent of Egypt’s current gas production. All the produced gas will be fed into the country’s national gas grid. Production is expected to start in 2017. ….