bp outlines upstream momentum with Brazil appraisal, new Egypt acreage

Offshore Brazil

bp plans an appraisal campaign toward the end of the year of its giant Bumerangue discovery offshore Brazil, announced last August.

The exploration well was drilled in 2,372 m of water in the Bumerangue Block in the Santos Basin, 404 km offshore Brazil.

In a financial results review, bp said its initial estimate was about 8 Bbbl of liquids in place, split about 50:50 between oil and gas-condensate, with CO₂ also present in the reservoir. 

The appraisal program will provide data from locations across the reservoir to give a better idea of the fluid characteristics and resource potential.

Offshore Egypt

Last month, Egypt’s government awarded bp two exploration concessions in the Mediterranean Sea. The North-East El Alamein offshore concession, which bp will operate with a 100% interest, covers a 3,336-sq-km area close to the company’s existing West Nile Delta assets.

Eni (75%) will operate the 1,894-sq-km West El Hammad offshore concession in the East Nile Delta, with bp assigned a 25% stake. This permit is also near established infrastructure.

Last September, bp signed a memorandum of understanding (MoU) with Egypt’s Ministry of Petroleum and Mineral Resources to assess opportunities for five new wells in the Mediterranean Sea, in water depths varying from 300 m to 1,500 m.

The goal is to speed up development and production of gas reserves, thereby extending the life of production facilities in the West Nile Delta. Drilling was due to start this year, leading to potential tieback options following evaluation of the resource potential.

Gulf of Mexico

Elsewhere, bp said it was the apparent highest bidder on 51 lease blocks in the US Gulf Federal Lease Sale BBG1, which included 219 leases.

Caspian Sea

In December, state-owned SOCAR and the joint venture management committee approved the development program for the Karabagh Field in the Caspian Sea, offshore Azerbaijan.

Seismic acquisition started soon afterward.