BP awarded exploration block in the Eastern Mediterranean offshore Egypt
bp has been awarded an exploration block offshore Egypt following its successful participation with partner Eni in the “Egypt International Bid Round for Petroleum Exploration and Exploitation” organised by the Egyptian Natural Gas Holding Company in 2021.
The EGY-MED-E5 block, in which bp and Eni, the operator, each hold a 50% interest, is located in the Mediterranean Sea, approximately 130 kilometres northeast of Port Said City. The block covers an area of approximately 3,200 square kilometers with water depths ranging between 500 metres and 1,200 metres. It is located within the Deep Levant Basin, which offers the potential for material gas discoveries that could be developed through existing infrastructure.
Karim Alaa, North Africa Regional President said, “This new award underpins bp’s ongoing commitment to securing resilient and focused hydrocarbons for Egypt’s growing domestic gas market through leveraging promising exploration opportunities close to our existing infrastructure”.
bp is a major player operating in the Mediterranean basin, with a long-standing, strong, and successful partnership with the Egyptian Ministry of Petroleum spanning almost 60 years, investing more than $35bn across those years, and has been a consistently active player in the Egyptian energy industry.
