The blocks were awarded to BP following completion of the 2013 the Egyptian Natural Gas Holding Company (EGAS) bid round.
The company said the program will comprise 3D seismic and three exploration wells in each of the onshore and offshore blocks in phases scheduled over six to eight years.
The Block 3, also known as the North El Mataria, is located in the northeastern part of the Nile Delta cone, approximately 57km to the west of Port Said city.
BP will operate the block with 50% equity while the remaining 50% working interest will be owned by Dana Gas of Abu Dhabi.
The Block 8, offshore Karawan, is located in the Mediterranean Sea in the northeastern part of the country’s waters and lies at approximately 220km to the NE and 170km to the North West of Alexandria and Port Said cities respectively.
The Karawan Offshore block will be operated by ENI with 50% stake whereas BP will hold the remaining 50% equity.
BP North Africa regional president Hesham Mekawi said: "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. We also look forward to working with our Abu Dhabi partners at Dana Gas."
Image: BP’s business primarily focuses on oil and gas exploration and production in Egypt. Photo: courtesy of Rosemary Ratcliff/Freedigitalphotos.net.
