Egyptian Minister of Petroleum, Eng. Tarek El Molla, visited North Alexandria to follow up on project developments in gas fields located in the Mediterranean’s deep water. Bernard Looney Chief Executive of BP for Exploration and Production, and BP North Africa Regional President Eng. Hesham Mekawi accompanied El Molla during his visit to the project’s site.
El Molla said that the development of the wells will be performed according to the latest drilling technologies, via the execution of 21 deep water wells, with depths reaching 1000m below sea level. Additionally, The project also entails the development of a 35km pipeline as a to link Libra and Taurus to Burullus pipeline, and a 70km pipeline to move gas from gas from Taurus and Libra to Rashid for processing.
The Minister added that the project will cost a total of $11,3 b in investments, with early production from Libra and Taurus fields coming online in the end of March 2017. They will have an output capacity of about 600mmcf/d of gas and 2200b/d of condensate.
El Molla added that the project will aide Egypt in compensating for natural gas decline in existing fields, consequently addressing the gap between gas supply and demand. The visit was attended by First Undersecretary at the Ministry of Petroleum, Mohamed Mounes, EGAS’ CEO, Eng. Mohamed Al-Masry, EGPC’s Vice Chairman for Production at the Egyptian Natural Gas Holding Company (EGAS), Eng. Abed Ezz El Regal, EGPC’s Deputy CEO for Joint Ventures’ Surveillance, Hesham Ali Hassan, BP’s General Manager in Egypt Eng. Nader Zaki, and Chairman of Rashid Company Eng. Hesham El Attar.
Bernard Looney, Chief Executive of BP for Exploration and Production, said that “BP has a long and successful track record in Egypt stretching back 55 years. In Egypt our business is primarily in exploration and production. BP currently produces almost 15% of Egypt’s entire oil production and close to 30% of Egypt’s gas production with its partners. BP is working to meet Egypt’s domestic market growth by actively exploring in the Nile Delta and investing to add production from existing discoveries”.
“Over the years we have established strong relationships with the Egyptian government and the Ministry of Petroleum. Our pioneering partnership with the Egyptian General Petroleum Corporation has made our joint venture, the Gulf of Suez Petroleum Company (GUPCO), an industry leader and one of the largest oil and gas operations in the entire region. With GUPCO leading our operations since the 1960s, we have successfully managed to maintain oil production flat in the Gulf of Suez and our goal is to grow and sustain production levels for the years ahead”.
Looney added that “BP are also committed to being a prominent player in the new phase of Egypt’s hydrocarbon industry and the development of a world-scale gas business in the offshore Nile Delta. In 2008, BP Egypt and its partners in the Ras El Barr (REB) concession established the Pharaonic Petroleum Company (PhPC), BP’s second successful joint venture with the Egyptian government, to efficiently run the gas business within the REB concession. This joint venture is designed to be an efficient and effective vehicle for our gas production growth plans in this area”.
The West Nile Delta (WND) major project is our first operation in Egypt through a BP operating company. With our partner, WND represents one of the largest tranches of Egypt’s new gas providing a major source of gas for the domestic market in Egypt.
BP North Africa Regional President, Eng. Hesham Mekawi, said “BP is committed to a wide- ranging social investment programme focused on education, training, and skills development. BP Egypt supports several educational initiatives, including funding scholarships for top Egyptian graduates to pursue post-graduate studies at the prestigious Cambridge University in the UK, in addition to scholarships through the Chevening scheme. BP Egypt also partners with local prominent non-governmental organizations to provide training and skills development”.
As part of the WND project, BP will also undertake a social investment programme directed to various sustainable development projects in coordination with the local communities and utilizing local service providers. Eng. Hesham Mekawi added that BP is committed to follow policies on ethical conduct, employee relations, health, safety, security, environment control and finance. BP strives continuously to achieve its aspiration of no accidents, no harm to people, and no damage to the environment.
(Source: Ministry of Petroleum)