BP expects to invest around $12bn with its partners as part of a finalised West Nile Delta concession, Reuters has reported.
The deal will see the development of 5 trillion cubic feet of gas resources and 55mn barrels of condensates
BP said on Friday that production from the project was expected to start in 2017 and reach up to 1.2bn cubic feet a day, equivalent to about 25% of Egypt’s current gas production. BP said it had about 65% equity in the project partnership.Â
BP North Africa regional president, Hesham Mekawi said: “BP expects to double its current gas supply to the Egyptian domestic market during this decade when the WND (West Nile Delta) project reaches its peak production.”
Gas would be produced from two BP-operated offshore concession blocs, North Alexandria and West Mediterranean Deepwater, BP said.
It also said that production from its Taurus and Libra gas fields would be channelled via BG Group’s existing offshore pipeline network, serving its Burullus concession, into the Egyptian grid.
Reuters reported in December that BG was in talks to allow rival BP to use its pipelines and boost energy supplies to Egypt.
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