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Oil major BP announced on Tuesday that it has been awarded an offshore exploration block in Egypt following its successful participation in last year’s limited bid round organised by the Egyptian Natural Gas Holding Company.
The company said in a statement that the King Mariout Offshore area, with 100 percent working interest, is located approximately 20 kilometres west of the Raven field in the Mediterranean Sea within the West Nile Delta area, and offers potential for material gas discoveries that could be developed using existing infrastructure.
The statement said the block covers an area of approximately 2,600 square kilometres with water depths ranging between 500 metres and 2,100 metres.
The statement quoted BP’s North Africa Regional President Karim Alaa, as saying that the new award, following EGY-MED-E5 block award in early 2022 to an equally owned partnership between BP and Eni, will leverage existing infrastructure to continue delivering hydrocarbons for Egypt’s growing gas market.
BP has been active player in the Egyptian energy industry since 60 years investing more than $35 billion.
(Writing by Eman Hamed; Editing by Anoop Menon)
