bp awarded new exploration block in the Western Mediterranean, offshore Egypt
bp has been awarded an exploration block offshore Egypt following its successful participation in the limited bid round organised by the Egyptian Natural Gas Holding Company in 2021.
The King Mariout Offshore area, with 100% bp working interest, is located approximately 20 kilometres west of the Raven field in the Mediterranean Sea. The block covers an area of approximately 2,600 square kilometres with water depths ranging between 500 metres and 2100 metres. It is located within the West Nile Delta area, which offers the potential for material gas discoveries that could be developed using existing infrastructure.
Karim Alaa, North Africa Regional President said, “This new award, following our EGY-MED-E5 block award in early 2022 [bp and Eni hold 50% each], underpins our ambitious development plans in the offshore Nile Delta, leveraging our existing infrastructure to continue delivering resilient and focused hydrocarbons for Egypt’s growing gas market”.
bp is a major player operating in Egypt’s Mediterranean basin, with a longstanding, successful partnership with the Egyptian Ministry of Petroleum spanning almost 60 years. Across those years bp has been a consistently active player in the Egyptian energy industry, investing more than $35 billion.
