Egypt- BP wins rights to explore for natural gas in concession in Egypt

  • 30 June 2022 / News / 388 / Fares RAHAHLIA


Egypt- BP wins rights to explore for natural gas in concession in Egypt
 British Petroleum (BP) Company won the rights to explore for gas in the King Mariout offshore concession located in the western Mediterranean; after its successful participation in the limited bidding organized by the Egyptian Natural Gas Holding Company in 2021.
 
The concession area is located about 20 kilometers west of the Raven field in the Mediterranean Sea, with an area of ​​about 2,600 square kilometers, at a depth ranging between 500 and 2,000 meters, according to the company's statement, Tuesday.
 
BP owns 100 percent of the exploration rights in the concession area located within the western Nile Delta, which enhances the opportunities for developing future gas discoveries through the use of existing infrastructure.
 
“Our winning of the King Mariout offshore concession, which was preceded by our winning of the EGY-MED-E5 concession with our partners in early 2022, directly supports our ambitious plans to develop the Nile Delta offshore region by linking it to the infrastructure and facilities established by BP in order to meet the growing demand for gas in Egypt,” Regional President for North Africa, Karim Alaa, stated.
 
BP is a major investor in the Mediterranean region within the framework of an effective partnership with the Egyptian Ministry of Petroleum that extends for nearly 60 years, during which the company has invested more than $35 billion as a major partner and part of the Egyptian energy sector.

source: Egypt today

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