In a launch despatched to Rigzone by the BP staff lately, BP revealed that it had made a discovery offshore Egypt.
The corporate outlined within the launch that it “encountered two potential Messinian reservoirs at a measured depth of roughly 2,400 meters” on the El King-2 exploration nicely, which is located within the North King Mariout Offshore Concession.
Rigzone requested BP for extra info on these reservoirs. An organization spokesperson was unable to remark.
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BP highlighted within the launch that the nicely was spudded on January 14, 2025, by the Valaris DS-12 rig, and is a part of the corporate’s West Nile Delta (WND) four-slot drilling marketing campaign. The corporate famous that, upon completion of drilling the El King-2 nicely, the DS-12 rig will transfer to drill the Fayoum-5 exploration nicely within the North Alexandria concession.
“This discovery additional underscores our continued dedication to discover and appraise for gasoline assets that assist Egypt’s vitality safety and financial progress,” Nader Zaki, BP Regional President for the Center East and North Africa, mentioned within the launch.
“With our current infrastructure, execution capabilities and strategic partnerships with the Ministry of Petroleum, we’re well-positioned to fast-track the event of this discovery and contribute well timed to the home market wants,” Zaki added.
BP Egypt VP Wail Shaheen mentioned within the launch, “we’re targeted on maximizing manufacturing from current assets, exploring new alternatives, and leveraging our current infrastructure to assist gasoline provide that meets rising home demand whereas strengthening Egypt’s place as a key vitality associate within the area”.
BP states on its web site that it takes satisfaction in its long-standing historical past in Egypt, including that it has “operated efficiently in Egypt for nearly 60 years” and invested “greater than $35 billion throughout that point”.
The WND improvement is listed as a “main gasoline undertaking” on BP’s web site, which highlights that this improvement contains 5 gasoline fields and is BP’s first operated asset within the nation.
“The WND is presently producing shut to at least one billion cubic ft per day from the mixed WND fields,” BP notes on its web site.
“The roughly $9 billion improvement is a testomony to BP’s long-term dedication to Egypt because it represents an necessary contribution to assembly Egypt’s rising vitality wants by offering a cost-competitive and resilient gasoline provide from the nation’s personal assets,” the corporate provides.
BP has an 82.75 % stake within the WND improvement and Wintershall Dea holds the remaining 17.25 % curiosity, BP’s web site exhibits.
Final month, an ExxonMobil spokesperson instructed Rigzone that Exxon “safely accomplished drilling of the Nefertari 1 nicely within the North Marakia Block with the Valaris DS 9 drillship”.
“Fuel bearing reservoirs have been encountered, and we are going to proceed to guage the outcomes,” the spokesperson added.
The North Marakia Offshore block is positioned roughly 5 miles offshore Egypt’s northern coast within the Herodotus basin, an Exxon launch posted on the corporate’s web site again in December 2019 highlighted.
In response to the Vitality Institute’s (EI) newest statistical evaluate of world vitality, which was launched final June, Egypt produced 57.1 billion cubic meters of pure gasoline in 2023. That determine marked an 11.5 % 12 months on 12 months drop and 1.4 % of worldwide pure gasoline manufacturing in 2023, the evaluate confirmed. From 2013 to 2023, Egypt’s pure gasoline manufacturing has elevated by a mean of 0.6 % yearly, the evaluate outlined.
Egypt’s pure gasoline consumption in 2023 got here in at 60.0 billion cubic meters, based on the evaluate, which highlighted that this was down 0.9 % 12 months on 12 months and 1.5 % of worldwide pure gasoline demand in 2023. From 2013 to 2023, Egypt’s pure gasoline demand has elevated by a mean of 1.9 % yearly, the evaluate outlined.
To contact the writer, e mail andreas.exarheas@rigzone.com
