A plan has been set by the Egyptian government to start developing five new oil and gas fields in Egypt, from the third quarter of 2017 until 2019. The five fields are named: Taurus, Libra, Giza, Fayoum, and Raven, according to a statement made to Egypt Oil&Gas by an official source.
The source added that the Q3 of 2017 will also witness BP resuming all the production and developmental activities in the controversial North Alexandria oil field, which has been completely inactive since 2011 due to the stumbling Egyptian political and economic situations.
According to May reports by Energy Desk, BP has been negotiating over the North Alexandria field with successive Egyptian governments since 1992, yet has so far failed to produce any gas from this region due to the disputes that was present there. The gas field is forecast to initially start producing 490mcf/d and keep increasing until it reaches the production capacity of 1.25bcf/d in 2019/2020, when it becomes operational, at which point the overall investments will amount to $11b, reported Youm 7.