BP has hit oil with the NS 377-3 field development well in Egypt’s Gulf of Suez North Shadwan concession.

The probe struck a 140 metre oil column, 20 metres more than prognosed, in the Kareem formation reservoir and is being cased as a future oil producer, project partner Beach Petroleum said.

NS 377-3 is the first production well for the field and has been drilled from an onshore site to intersect the offshore oil pool 150 metres north of the GH 377-1 discovery well.

Production from the 377 field is expected to start in the Ras Ghara facility, seven kilometres to the north-west of the 377-3 well site, in early 2010.

Australia’s Beach Petroleum holds a 20% stake.

(Upstream Online)