Egypt has revealed plans to keep all the natural gas discovered in the Baltim exploration region for itself, permitting the country to reduce its liquefied natural gas (LNG) imports and inspire competitions, Egypt Oil and Gas portal reports.

This is coming after Eni and BP made a significant gas discovery in the Baltim South Development Lease in the East Nile Delta, in the Eastern Mediterranean offshore.

According to BP North Africa Regional President, Hesham Mekawi (photo), the company is pleased with the outcome of the Baltim SW-1 well as it is the third discovery along the Nooros trend and endorses the great potential of the Messinian play and its significant upside in the area.

The Baltim SW-1 well is the third largest gas find ever since the Nooros field was discovered in July 2015, and then the Zohr find in August 2015.

These two discoveries have put Egypt on the path to be energy independent in the next two years as they are expected to commence operation by the end of 2017. Zohr is to produce 40% of Egypt’s overall natural gas output while the Nooros field currently pumps 65,000 bpd of gas for the domestic market. The Greater Nooros Area contains an estimated 80bcm of gas.

The Baltim South Development lease is owned and operated by BP with 50% and Eni holds the remaining 50% interest.

So far, BP Egypt has produced close to 40% of Egypt’s total oil production. The company presently produces nearly 10% of the country’s yearly oil and condensate.

Anita Fatunji