BP is targeting to produce 500 million standard cubic feet per day (mmscf/d) of natural gas from its new discovery in the Baltim South Development Lease, a source in the Egyptian Natural Gas Holding Company (EGAS) has reportedly told Al-Borsa.
BP Egypt announced a major discovery in the Baltim South Development Lease in June in 2016, near the Nooros field in the Nile Delta offshore concession that currently produces more than 1 billion standard cubic feet per day (bscf/d). Work on the discovery is undergoing to link it to the national gas grid.
The Baltim SW-1 exploration well was drilled at a depth of 3,750 meters with a water depth of 25 meters, reaching sand layers holding excellent gas reservoirs.
The exploration plan includes drilling 6 wells in the Baltim South Development Lease in the Nile Delta, and establishing a 2400-ton rig at a 23-meter depth, as well as a 35-kilometer sealine to transport the gas to the Abu Madi plant at a cost of $380 million.
BP owns a 50% stake in the Baltim South Development Lease, while Eni owns the remaining 50% through its subsidiary IEOC. The exploration well was drilled by Petrobel, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and IOEC.