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MARKET WATCH: Oil price rises amid geopolitical tensions (Oil & Gas Journal, January 5, 2009, 11:25 AM)

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Egypt Taurt field in production

Offshore staff

LONDON -- Gas production from the Taurt field began at the beginning of July, according to BP Egypt. The field is located in Ras El Bar concession, 70 km (43.5 mi) offshore in the northeast of Port Said, East Nile Delta.

The project is executed and operated by Gulf of Suez Petroleum Co. - a joint venture between Egyptian General Petroleum Corp. and BP.

The parties to Ras El Bar Offshore Concession agreement are operator BP Egypt, and IEOC, the affiliate of ENI in Egypt, each holding 50% interest.

"Taurt is BP's first subsea development in Egypt and also the first of what we plan to be a program of subsea developments, its successful delivery represents a new milestone in recovery of gas from the Mediterranean Sea," says Hesham Mekawi, president of BP Egypt.

The Taurt project is an offshore development with a subsea production system, two subsea wells, and a 70 km (43.5 mi) pipeline and control umbilical back to upgraded facilities at the existing West Harbor processing plant.

07/30/2008

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