BP Egypt has completed the acquisition of 22.75% in the North Alexandria Concession and 2.75% in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG, BP said in a news release.
The acquisition will bring BP’s working interest in both concessions of the West Nile Delta (WND) project to 82.75%.
The WND project agreement, concluded in March 2015, involves the development of 5 trillion cubic feet of gas resources and 55 million barrels (MMbbl) of condensates. Production from WND is expected to be around 1.2 billion cubic feet a day, equivalent to about 25% of Egypt’s current gas production. All the produced gas will be fed into the country’s national gas grid, the release said.
Production is expected to start in 2017.
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