BP Egypt has won two new exploration blocks as a result of the 2013 EGAS bid round, where the company and its partners have committed to invest a total of $240 million in the blocks over different phases.

The Block 3 – North El Mataria, which is BP’s first entry into the Onshore Nile Delta, is located in the northeastern part of the Nile Delta cone, approximately 57km to the west of Port Said city, said a statement.

BP will operate the block with 50 per cent equity and Dana Gas will hold the remaining 50 per cent working interest, it said.

The Block 8 - Karawan Offshore is located in the Mediterranean Sea, in the northeastern part of Egypt’s economic waters.

It lies at approximately 220km to the NE and 170km to the NW of Alexandria and Port Said cities respectively.

BP will have 50 per cent equity and the block will be operated by ENI which holds the remaining 50 per cent.

The programme will include 3D seismic and three exploration wells in each of the onshore and offshore blocks in phases over six to eight years.

Hesham Mekawi, BP North Africa regional president, said: “BP is proud of the successful partnership it has had with Egypt for 50 years. We look forward to continuing to play a key role in the development of Egypt’s energy sector and maximising the use of our existing resources.

“Our expertise and latest technologies will be deployed for mutual benefit in these new blocks which we believe have gas-bearing characteristics. Exploring the two blocks will require substantial investments to unlock their potential, and will be done as part of our commitment to meeting Egypt’s energy needs.” - TradeArabia News Service