BP Egypt has been awarded two new exploration blocks as a result of the 2013 EGAS bid round, according to a press release. BP and its partners have committed to invest a total of $240 million in the blocks over different phases.
Block 3-North El Mataria is BP’s first entry into the Onshore Nile Delta. The block is located in the northeastern part of the Nile Delta cone, about 57 km (35 miles) west of Port Said. BP will operate the block with 50% equity, and Dana Gas will hold the remaining 50% working interest.
Block 8-Karawan Offshore is located in the Mediterranean Sea in the northeastern part of Egypt’s economic waters. The block lies at about 220 km (137 miles) northeast of Alexandria and 170 km (106 miles) northwest of Port Said. BP will have 50% equity, and the block will be operated by ENI, which holds the remaining 50%.
The program will include 3-D seismic and three exploration wells in each of the onshore and offshore blocks in phases over six to eight years.
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