The Egyptian Natural Gas Holding Company has awarded BP stakes in two exploration blocks in the Mediterranean Sea, off the coast of Egypt.
The Northwest Abu Qir Offshore Area - in which BP, as the operator, holds 82.75% and Wintershall-Dea holds 17.25% - is located west of the recently awarded North King Mariout block where BP holds a 100% stake, and north of the Raven field. The offshore exploration block is about 1038 square kilometers in size, and the water depths range from 600 to 1600 meters.
The second block, the Bellatrix-Seti East block - is located west of the Atoll field and North Tabya blocks. It covers an area of approximately 3440 square kilometers, with water depths ranging between 100 meters and 1200 meters. BP and Eni, the operator, each hold a 50% share.
Anja-Isabel Dotzenrath, BP’s executive vice president for gas & low carbon energy said: “Egypt has long been important for bp with almost 60 years of successful partnership and more than $35 billion invested. We now look forward to an even more successful future, continuing to help meet Egypt’s growing energy needs by providing cost-competitive supplies of gas and supporting Egypt through the energy transition by exploring growth opportunities in hydrogen for example.”
Karim Alaa, BP’s regional president, Egypt, Algeria, and Libya, added: “We have been awarded four new exploration blocks and a block extension in 2022, which offer the potential for gas discoveries that could be developed using existing infrastructure.
Acquiring this acreage is part of our strategy to maintain a longer-term plateau production rate.” I
n addition to the two new blocks, in 2022 BP was also awarded: King Mariout Offshore Area (100% BP), North El Fayrouz offshore area (50% BP and 50% Eni, the operator) and the North El Tabya area extension (100% BP).