BP plans to commence the Phase 1 of development on the northern Alexandria concession and West Mediterranean deep water by Q3 of 2017, with a production capacity of 450 million cubic feet of gas per day.

According to a source from the Egyptian Natural Gas Holding Co (EGAS), the development project has an estimated $11.3b in investments and has been predicted to hold total reserves of 5,000 billion cubic feet of gas and 55m barrels of condensate. The project will be concluded by Q2 of 2019.

The project’s preliminary production capacity has been estimated at 900 Mmcf/d and will sooner or later reach 1.3bct/d of gas and 17tb/d of condensate, Egypt Oil and Gas news reports.

The Northern Alexandria concession and the West Mediterranean Deep water concession are situated in the Mediterranean, offshore of the city of Alexandria in Egypt. BP Egypt has made several discoveries in these concessions including the Giza, Taurus, Libra, Fayoum and Ruby in the Pliocene and also the Raven discovery in the deeper Miocene formations.

BP operates the North Alexandria concession with a 60% interest alongside RWE Dea with the remaining 40%, while the company operates the West Mediterranean Deepwater concession with an 80% interest and RWE Dea holding the remaining 20%.

Anita Fatunji