BP
This operation is scheduled to kick off in January 2024, aiming to boost Egypt’s natural gas output to meet the country’s rising demand.
Minister of Petroleum Karim met with British Petroleum’s Executive Vice President for Gas and Low Carbon Energy William Lynn on Wednesday to discuss the drilling of two new gas wells in the second phase of the Reven project and the exploratory drilling program in the Mediterranean.
This partnership, as disclosed to The Egyptian Competition Authority (ECA), is aimed at exploring, extracting, and marketing natural gas and condensates from designated fields in Egypt.
The investment will be injected into Egypt's energy sector over a period of three to four years, as confirmed by the BP spokesperson in a statement to Bloomberg.
This comes in light of maximizing the use of land and maritime facilities established to accelerate development and production plans to meet the growing demand of the local market, and to support the state’s efforts to export surplus energy, according to statements by the CEO of British Petroleum, Murray Auchincloss.
Egypt’s President Abdel Fattah al Sisi met with Chief Executive Officer of BP, Murray Auchincloss, on the sidelines of the Egypt Petroleum Show, EGYPS 2024.
The British Petroleum Company (BP) celebrates 60 years of operations in Egypt, BP CEO Bernard Looney, announced.
The concession area is located about 20 kilometers west of the Raven field in the Mediterranean Sea, with an area of about 2,600 square kilometers, at a depth ranging between 500 and 2,000 meters.
BP’s CEO, Mr. Looney, lauded President El-Sisi’s wise leadership and ambitious vision, which have led Egypt to become a successful economic and developmental model, at both the regional and international levels.
He pointed out to recent agreements signed with a number of major international companies with the aim of flourishing the oil sector and adding new reserves to Egypt's mineral wealth.
The Kattameya field is located in the North Damietta offshore concession area.
The announcement came in a joint statement by Eni, as the Operator of the Block, and bp, as contractor member.
Egypt’s production jumped by 82.7 percent on an annual basis to reach 6.5 terawatt hours (TWh), exceeding the average increase of 14.3 percent during the previous 10 years.
About 1.7 billion cubic meters of exports went to Europe, while Asia and the Pacific countries received 2.7 billion cubic meters, led by Pakistan with about 900 million cubic meters.
Italian oil and gas company Eni said it managed to drill the first exploration well in waters of Egypt’s Nile Delta, in cooperation with contractor members of BP and Total.
The meeting took up the company's activities in Egypt and the development of new gas projects as well as present and future plans.
The deal is subject to the Egyptian Ministry of Petroleum and Mineral Resources’ approval.
Molla lauded the BP's initiative and its support to talented researchers, saying that such initiatives contribute to achieving sustainable development in the society in all domains.
The agreement was signed by Chief Executive Officer of the Petroleum Authority Abed Ezz al-Ghanim, and Regional President of British Petroleum (BP) North Africa Hisham Makkawi.
Thousands of automated wells feed data on their performance into the firm’s supercomputers each evening.
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