BP, Eni announce significant new gas discovery in Egypt’s East Nile Delta

BP_LogoBP Egypt announced today another important gas discovery in the Baltim South Development Lease in the East Nile Delta, in the Eastern Mediterranean offshore.
The Baltim SW-1 exploration well, drilled in water depth of 25 metres by operator IEOC (Eni), reached a total depth of 3750 metres depth and penetrated approximately 62 metres of net gas pay in high quality Messinian sandstones. The discovery, which is located 12 kilometers from shoreline, is a new accumulation along the same trend of the Nooros field discovered in July 2015 and currently producing 65,000 barrels of oil equivalent per day. Further appraisal activities will be required to underpin the full resource potential of the discovery.

baltim

Hesham Mekawi, Regional President of BP North Africa, commented: “We are pleased with the results of the Baltim SW-1 well as it is the third discovery along the Nooros trend and confirms the great potential of the Messinian play and its significant upside in the area. Our plan is to utilise existing infrastructure which will accelerate the development of the discovery, and expedite early production start-up. This announcement is another example of BP’s commitment to unlock resources in order to bring critical gas production to Egypt.”

BP holds a 50% stake in the Baltim South Development lease, and Eni, through its subsidiary IEOC, holds 50%. The well was drilled by Petrobel, a joint venture between IEOC and the state partner Egyptian General Petroleum Corporation (EGPC).

(BP Press Release)

EniEni made a new significant gas discovery in the Baltim South West  exploration prospect, located in the Baltim South license, in the conventional waters of Nile Delta, offshore Egypt.
This new discovery, achieved through the Baltim South West 1X well, is placed 12 kilometers from the coast, 25 meters of water depth and 10 kilometers North of the Nooros field, discovered in July 2015. Nooros field already reached in May a production of 65.000 barrels of oil equivalent per day and is expected reaching 120.000 boe/d by yearend 2016. The Baltim South West 1X well penetrated approximately 120 meters of  gross gas column and  62 meters of net pay sandstones of Messinian age with excellent reservoir  properties.

Baltim South West discovery, further confirms the significant  potential of the so called “Great Nooros Area”, which is now estimated to hold 70-80 billion cubic meters of gas in place.

Eni is already assessing the options for the fast track development of this new find, which like that of Nooros, will exploit solutions able to accelerate the production start-up, through the maximum synergy with the existing infrastructures already present in the area. This further discovery is a new success of eni’s “near field” exploration strategy, in the country aiming on high value opportunities, able to guarantee the rapid delivery of new gas production to the Egyptian market.

In parallel with the appraisal and development activities, Eni will also continue exploring the “Great Nooros Area”, with the drilling of other two wells.

Eni, through its subsidiary IEOC, holds a 50% stake in the license of Baltim South, while BP holds the remaining 50% stake. The operator is Petrobel, an equal joint venture between IEOC and the state company Egyptian General Petroleum Corporation (EGPC).

(Eni Press Release)

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