British Petroleum (BP) is aiming to start the first development phase of the northern Alexandria concession and west Mediterranean deep water concession by the third quarter of 2017, with a production capacity of 450mcf/d of gas, reported Al Borsa News.
A source from the Egyptian Natural Gas Holding Co (EGAS) stated that the development project, with an estimated $11.3b in investments and forecasted total reserves of 5,000bcf of gas and 55m barrels of condensate, will be completed by the second quarter of 2019. The project’s initial production capacity is reported at 900mcf/d, and will eventually reach 1.3bct/d of gas and 17tb/d of condensate.
