BP and its partners are to invest $229 million over different phases in the three new exploration blocks awarded to BP in the 2015 Egyptian Natural Gas Holding Company (EGAS) bid round.

The first block North E1 Tabya is situated in deep waters north of Salamat and Atol, BP’s recent find and it covers an area of 2084km².The Company is to operate, North E1 Tabya at 100% equity.

BP in partnership (50%-50%) with IEOC a subsidiary of Eni is to operate on the second block, North Ras E1 Esh, located in the shallow waters east of the Notus discovery and covers an area of 1389km².

The third block, North E1 Hammad, situated in the shallow water, west of Baltim field covers an area of 1927km². The block was awarded to BP with 37.5% equity in partnership with Total (25%) and IEOC who is to operate the block with 37.5% equity.

“BP is proud of the successful partnership it has had with Egypt for more than 50 years. Continuing to play a key role in the development ofEgypt’s energy sector, BP will deploy its expertise and latest technologies to exploit the resources in these new blocks. This investment confirms our commitment to meet Egypt’s energy needs.” Hesham Mekawi, BP North Africa regional president, told Albawaba news.