CAIRO, Egypt-- BP Egypt has discovered gas at record depths in the Nile Delta. BP says the Satis discovery is in the North El Burg Offshore, Nile Delta concession, 50 km (31 miles) north of Damietta.
The well was drilled with theConstellation II jackup rig in a water depth of 90 m (295 ft) to a Nile Delta record depth of more than 6,500 m (21,325 ft) and is the first significant high-pressure, high-temperature, offshore Oligocene discovery.
According to BP, the parties to the North El Burg offshore concession agreement are: BP, operator (50%) and IEOC, the affiliate of Italy's ENI in Egypt (50%).
"This is a significant discovery, which will underscore our position as a major producer in the growing Egyptian gas market for many years to come," says Andy Inglis, BP's chief executive of Exploration & Production.