BP is preparing to spud the Burtocal North oil exploration well in Egypt’s Gulf of Suez.

The UK operator has moved the jack-up rig Comet to the location of the NS394-3 well, three kilometres north of the oil discovery, NS394-1A, according to BP’s partner for the venture, Beach Petroleum.

Planned depth for NS394-3 is 3475 metres.

Drilling is expected to begin by the end of this week.

NS394-3 lies in the North Shadwan concession, which contains proven and probable recoverable reserves of 40 million barrels.

(Upstream Online)