RWE Dea makes ‘significant’ discovery in Egypt

A “significant” deepwater gas find is reported by RWE Dea Egypt from its West Mediterranean Deep Water concession.

Offshore staff

CAIRO, Egypt – A “significant” deepwater gas find is reported by RWE Dea Egypt from its West Mediterranean Deep Water concession. The Hodoa discovery is in the West Nile Delta 80 km (50 mi) northwest of Alexandria.

Well WMDW-7 was drilled to 6,350 m (20,833 ft) by the Pride North America semisubmersible in 1,077 m (3,533 ft) water depth and is the first Oligocene deepwater discovery in the area.

BP is the operator with 80% interest in the concession and RWE Dea holds the remaining 20%.

RWE says it expects to invest $3.6 billion in field development of the North Alexandria and West Mediterranean Deep Water concessions. Development of the Hodoa find likely will be in a second phase, says RWE.

12/01/2010

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