BP announced that it has secured a bid for an offshore exploration block in Egypt as part of the 2022 International Bid Round by the Egyptian Natural Gas Holding Company (EGAS).
The block, named EGY-MED-E8 (East Port Said), is located in the Mediterranean Sea, about 50-90 km from Port Said city. BP has a 33% stake in the block, along with Qatar Energy (33%) and Eni (34%), which is the operator. The block covers an area of about 2620 sq km and has water depths up to 700 meters. The initial work program for the first exploration period includes drilling one exploration well and reprocessing existing seismic data.
Nader Zaki, BP’s Regional President for the Middle East and North Africa, said that the bid was a sign of BP’s commitment to finding more resilient hydrocarbon resources to meet Egypt’s growing energy demand. He also said that BP was taking advantage of exploration opportunities near existing infrastructure.
