BP awarded Nile delta blocks

Offshore staff

The Egyptian government awarded BP Egypt the Burullus and North El Burg blocks, two Nile delta concessions in less than 100 m water depth. The Burullus and North El Burg blocks complement BP's existing deepwater acreage.

The Burullus block covers 1,309 sq km and is west of the Ha'py field. During the initial three-year exploration period, the company must drill at least one well and spend a minimum of $40 million.

North El Burg covers 1,250 sq km in the central Nile delta. The company will drill one well and spend a minimum of $23 million on exploration activities during the concession's first three years.

"This new acreage, together with existing discoveries including the recent Raven gas discovery in the Mediterranean Sea, will underpin the long-term growth of our gas business," says Hesham Mekawi, president and general manager, BP Egypt.

6/03/05