British oil giant BP plans to add 140 million cubic feet of natural gas per day to its production in Egypt in July, according to a news report.

This initiative involves a total investment estimated at $160 million, an unnamed government official told AlSharq Business.

The volumes will be sourced from two projects located within BP’s deep-water concession areas in the East and West Nile Delta regions of the Mediterranean Sea.

Almost 100 million cubic feet per day will come from the West Nile Delta project, in addition to about 40 million cubic feet per day from the Atoll-6 well, located north of Damietta. Additionally, the company will produce almost 1,750 barrels of condensate per day.

Egypt aims to raise its natural gas production to 6.6 billion cubic feet per day by 2030, an increase of nearly 60 percent over current levels, the Minister of Petroleum has said earlier.

Furthermore, Cairo intends to drill 14 exploratory wells in the Mediterranean Sea this year to add gas reserves estimated at 12 trillion cubic feet, the report said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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